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Second Reading Speeches

National Consumer Credit Protection Amendment (Mandatory Credit Reporting and Other Measures) Bill 2019

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
46

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Summary

Amends the:

National Consumer Credit Protection Act 2009
to: establish a mandatory comprehensive credit reporting regime to apply from 1 April 2020; provide that a credit provider cannot refuse to provide further credit or reduce a customer's credit limit merely because financial hardship information exists; and provide for transitional arrangements; and
Privacy Act 1988
to: permit reporting of financial hardship information within the credit reporting system; require the Attorney-General to cause an independent review and report of the credit reporting system before 1 October 2023; and make a number of minor amendments relating to the administration of credit reporting.

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