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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
Before Senate
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.