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National Consumer Credit Protection Act

This National Consumer Credit Protection Act course provides an overview of the key aspects of Australia's national consumer credit regime. You'll learn about the powers of the regulator, the licensing system, the redress mechanisms and the responsible lending provisions.

Geography Covered: APAC | Duration: 30 minutes

Summary

Australia’s National Consumer Credit Protection Act (NCCP) laws were designed to offer consumers a higher level of protection through better dispute resolution mechanisms, national rules on consumer credit and a national licensing scheme administered by the Australian Securities and Investments Commission (ASIC). These laws pertain to home loans, personal loans, credit cards, consumer leases, pre-arranged overdrafts and line of credit accounts, among other products and services.

In addition, the National Consumer Credit Protection Act requires lenders to take steps to ensure that the credit products they sell are suitable for the individual consumers. Lenders that do not comply with NCCP regulations may face fines, both corporate and individual, and even prison time.

The available versions for this course include:

National Consumer Credit Protection Act (Australia)

The topics covered in the course include:

  • The purpose of the NCCP laws
  • Powers, sanctions and remedies
  • Licensing
  • Responsible lending
  • National credit code
    • Not available
  • Like with all our courses, the National Consumer Credit Protection Act training course was written by experts and powered by world-leading regulatory intelligence, which tracks more than 900 regulators and exchanges globally to ensure the course content is always up to date.

    All our training courses are driven by practical examples and interactive scenarios to ensure users truly understand and recognize the issues of most importance to your business and learn to instinctively act to support them.

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