Mandatory Comparison Rates regime extended

The Consumer Credit Code has been amended to remove the sunset date of 30 June 2009 in relation to the mandatory comparison rate scheme.

Last year, COAG agreed that responsibility for the regulation of credit will be referred by the states and territories to the Commonwealth.

The Commonwealth laws will maintain comparison rates.

Mandatory comparison rates will therefore continue under the existing law until the Commonwealth law commences.

Print Friendly, PDF & Email

Your Compliance Support Plan

We understand you need a cost-effective way to keep up to date with regulatory changes. Talk to us about our fixed price plans.