A Private Members' Bill has had its first reading in Parliament and is scheduled to have its second reading on 12 July. The High Cost Credit Bill would regulate high-cost credit arrangements and their providers. Its proposer calls for a number of further safeguards relating to these arrangements such as:

  • controls on advertising, information and communications;
  • measures to address cost and affordability;
  • regulating matters concerning repayments; and
  • providing for advice and advice services in relation to debt arising from the arrangements.

(Source: High Cost Credit Bill Starts Parliamentary Process)