This consultation paper is for Australian credit licensees that are credit providers or that provide credit assistance, as well as other interested parties. It seeks feedback on proposals for the prescribed period to be used when assessing whether a credit card contract or credit limit increase is unsuitable.

This report discusses the findings from ASIC’s review of credit card lending in Australia between 2012 and 2017. In particular, it looks at consumer debt outcomes over this period, the effect of balance transfers, and the operation of key reforms for credit cards that commenced in 2012.

This discussion paper summarises MBIE’s findings from the review of the Credit Contacts and Consumer Finance Act 2003 (CCCFA).

Reforms are being introduced to improve the efficiency and level of competition in consumer lending, with a goal of driving better pricing, enhanced access to finance and new products and services.

This background paper provides an overview of consumer credit protection law and regulation in Australia and an analysis of the interaction between the regimes.