Coronavirus (COVID-19) updates from the Australian Government

Licensing debt management firms

This consultation process has now been completed.
Date
-
Consultation Type
Draft Regulation

Key Documents

On 25 September, the Treasurer announced a suite of reforms to Australia’s consumer credit laws to facilitate more timely access to credit for small businesses and consumers, whilst retaining and strengthening a number of consumer protections.

An element of the reforms is protecting consumers from the often predatory practices of debt management firms by requiring them to hold an Australian Credit License when they are paid to represent consumers on matters related to credit activities.

Feedback from stakeholders is sought on the proposed licensing regime, which will be implemented through a change to the National Consumer Credit Protection Regulations 2010.

Submissions

No submissions are currently available.