Australian Credit Licensing (ACL) Forum

Home Forums Australian Credit Licensing (ACL) Forum Defaulting Consumer

Tagged: 

This topic contains 3 replies, has 3 voices, and was last updated by Grant Holley Grant Holley 1 year, 8 months ago.

Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • #5014 Reply

    Where would I locate regulatory requirements on managing a defaulting consumer where I am the introducer, not the underwriter?

    #5017 Reply
    Grant Holley
    Grant Holley
    Member

    Hi Genevieve,

    Thank you for your question!

    We just need to clarify the following before we can answer your question:
    •Does it concern a consumer credit contract?
    •If not, what type of consumer arrangement does your question concern?
    Thanks,
    Grant

    #5018 Reply

    Genevieve

    Yes, a consumer credit contract

    #5033 Reply
    Grant Holley
    Grant Holley
    Member

    Hi Genevieve,

    Thank you for clarifying that your question does in fact concern a consumer credit contract. The requirements relating to a defaulting consumer, under a consumer credit contract are located in Part 5 of the National Credit Code. Generally speaking, these requirements apply to the credit provider but third parties such as brokers can agree to do this on the lender’s behalf.

    However, if you have any specific question about how these provisions operate please contact our Financial Services team who would be pleased to provide advice based on your specific circumstances.

    Author: Grant Holley
    Co-contributor: Nicola Stevenson

Viewing 4 posts - 1 through 4 (of 4 total)

Reply

Reply To: Defaulting Consumer

Your information:


<a href="" title="" rel="" target=""> <blockquote cite=""> <code> <pre> <em> <strong> <del datetime=""> <ul> <ol start=""> <li> <img src="" border="" alt="" height="" width="">

  • Free answers to common Financial Services Regulation (FSR), Consumer Credit and AML/CTF issues.

    Click here to join our LinkedIn group for responsible managers and compliance professionals.
    joinUsOnLinkedIn
  • trex

    Tailored Regulatory Exchange

    what is this and does it bite ?

    Find OutLogin

  • Legal Advice

    Review your AFSL or ACL disclosure documents, conduct a licensee audit and more…

    Get Legal Advice

  • Compliance support

    Responsible Manager Training, AFSL, and ACL applications and variations and more…

    Compliance support