CP 198 Review of the effectiveness of an online database for small amount lenders
Released 25 January 2013. Comments closed 21 February 2013.
This consultation paper explains the background and scope of ASIC’s review of whether an online database or similar system would be of assistance in determining whether consumers applying for a small amount loan have outstanding small amount debts and whether the contracts offered by the credit licensee are consistent with regulations.
The purpose of this paper is to seek the views of consumers, consumer representatives, industry and other interested stakeholders so that we may assess whether any amendments to the Consumer Credit Legislation Amendment (Enhancements) Act 2012 are necessary and provide a report to Government.