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Government releases draft National Consumer Credit Reform Package - 28 April 2009

Related Galexia services and solutions Specialised Legal and Regulatory Consulting. Read more » Self-regulation and Codes of Conduct. Read more »

The Australian Commonwealth government has released a package of draft legislation for National Consumer Credit Reform, aimed at strengthening and consolidating Australia’s consumer credit laws.

Specific reforms include:

• Registration and licensing of credit organisations (including the introduction of an Australian Credit License);
• Responsible lending practices;
• Sanctions and remedies (to be administered by the Australian Securities and Investments Commission); and
• Reforms of dispute resolution and court mechanisms.

Galexia has worked closely with both industry and consumer groups on credit and consumer issues:

• Review of the proposed Credit Reporting Code of Conduct »
• Credit Reporting Framework - Submission to Australian Law Reform Commission Discussion Paper 72 »
• Consumer Protection in Telecommunications »

External links:

• The Australian Government’s Consumer Credit reform site (external site) »

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