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National Credit Protection Package

National Credit Protection Package
The Consumer Credit Code governed all credit transactions between November 1996 and 30 June 2010. From 1 July 2010 the National Consumer Credit Protection Package introduced a new regulatory framework for consumer credit in Australia. The Australian Securities & Investments Commission (ASIC) is now the national regulator. This means that home loans, personal loans, credit cards, consumer leases, pre-arranged overdrafts and line of credit accounts, among other products and services, are now regulated under Commonwealth legislation and administered by ASIC.

Read about the new national credit regulation here: http://www.asic.gov.au/credit

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