Lending and Securities - changes to consumer and commercial credit laws

How will the proposed credit law reforms affect policies and procedures? What changes will need to be made to lending and security documentation? How will the proposed reforms protect consumers?

Credit law and lending practices have come under scrutiny as a consequence of the global financial crisis, third-tier lenders’ practices and recent litigation involving lenders. The government has proposed amendments to the Credit Contracts and Consumer Finance Act 2003 to protect consumers, including the introduction of new responsible lending requirements.

The presenters will summarise and offer their perspectives on these changes. There will also be discussion on the significant issues going forward.

• a clear understanding of what we do now and how it will change
• a better understanding of the appropriate way to structure and enforce loans and how it all fits together under the new legislation
• knowledge of recent case law
• a better understanding of the advice necessary to ensure appropriate ways to structure and enforce loans.

• CCCFA – proposed changes:

• CCCFA – unreasonable fees
• Guarantees
• Mortgages – all obligations mortgages
• PPSA
• Proposed changes to the Credit (Repossession) Act.