The Australian Securities and Investment Commission (ASIC) implemented a review of credit card lending in the Australian market between 2012 and 2017.
The Australian Securities and Investment Commission (ASIC) implemented a review of credit card lending in the Australian market between 2012 and 2017. A report (REP 580) and consultation paper (CP 303) have been issued.
ASIC proposes responsible lending assessments for credit cards be based on whether the consumer can afford to repay the credit limit within three years.
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