Following the global financial crisis in 2008 responsibility for Australian consumer credit regulation was transferred from individual states and territories to the commonwealth. The new commonwealth regulations, as covered in the module, were based on a new licensing regime, more responsible lending obligations and remedies for unfair, misleading and dishonest conduct.
The AUSTRALIAN CREDIT LICENSEES module will continue to be updated to reflect changes and improvements in best practice processes as well as any changes to legislation and regulations impacting the Australian credit sector as they occur.