October 26, 2011: Summary of industry requests for the Joint Committee on Corporations and Financial Services re: Consumer Credit and Corporations Legislation Amendment Enhancement Bill 2011
Not only has the Federation totally supported the improved consumer protection measures implement to date, it has in fact suggested most of them, for small amount credit contracts during the last couple of years of consultation with Treasury.
The current Bill however diverges significantly from consultation, the RIS, third party regulatory recommendations and now includes amendments which are prohibition by another name, for both consumers and credit providers. Full details of the requested amendments below can be found in our official detailed submission (#22) at
At a minimum the Small Amount Credit Industry needs the following......
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