Consumer Action has made a submission on Treasury’s Discussion paper regarding the exemption of retailers from the National Consumer Credit Protection Act 2009.
Briefly, this submission:
- supports option 2 in the discussion paper, requiring vendor introducers to comply with the National Consumer Credit Protection Act 2009;
- does not support option 1 (maintaining the current exemption) as it is in our view an arbitrary and poorly targeted solution;
- argues that option 3 (applying more targeted requirements to vendor introducers) is more preferable than maintaining the current exemption but may introduce new complexities without solving existing problems.
To read our submission in its entirety, click here: The exemption of retailers from the National Consumer Credit Protection Act 2009.