- Get free trial for practice areas as below
- Business
- Consumer
- Corporations
- Criminal
- Employment
- Family
- General Counsel
- Governance
- Immigration
- Intellectual Property
- Personal Injury NSW
- Personal Injury Qld
- Personal Injury Vic
- Personal Property Security
- Property
- Succession
- Work Health & Safety
- Tax
- Mergers & Acquisitions
- Banking & Finance
- Social Justice
- Cybersecurity, Data Protection & Privacy
- Insolvency
- Competition
- Consumer credit
- What is consumer credit
Enforcement and dispute resolution in consumer credit
The Australian Securities and Investment Commission (ASIC) is responsible for the enforcement of obligations under the NCPPA and the NCC (Ch 6 of the NCCPA). The NCCPA confers power upon ASIC to commence civil proceedings and criminal prosecutions for contravention of the credit laws.
ASIC is also responsible for the granting and administering Australian credit licences (ACL) (Ch 2 of the National Consumer Credit Protection Act 2009 (Cth) (NCCPA)).
This guidance note explains the roles and powers of ASIC in relation to consumer credit, discusses ASIC’s enforcement approach, provides details of the various enforcement options available to ASIC and discussed ASIC’s product intervention powers.
This guidance note also explains the role of the Australian Financial Complaints Authority (AFCA) in dispute resolution.
See Enforcement and dispute resolution in consumer credit.
