Regulatory reforms: helping clients prepare for the implementation of the National Consumer Credit Protection Act (NCCPA)
The NCCP Act has been the most significant of recent reforms to the consumer finance sector and has required most providers of consumer finance to obtain Australian Credit Licenses and assume a range of new conduct and disclosure obligations.
Corrs has worked with many leading household financial services brands, including BankWest, GE Capital, Perpetual, Members Equity Bank and Heritage Building Society, to help them prepare for the implementation.
In addition to advising on all aspects of the NCCP Act and conducting reviews of product documentation, we have provided extensive compliance tools and in-house training programs. We have also successfully obtained relief from a range of obligations under the regime.