Jonathon Duniam Tasmania, Liberal Party, Assistant Minister for Forestry and Fisheries
3:41 pm
The government has not reneged on its acceptance of this recommendation by the royal commission. Recommendation 1 states:
The NCCP Act should not be amended to alter the obligation to assess unsuitability.
With respect to this recommendation, Commissioner Hayne noted:
Consumer advocacy groups urged me to recommend that the NCCP Act be amended to require lenders to determine whether a loan contract (or credit limit increase) was 'suitable' for the consumer (as distinct from 'not unsuitable'). I do not favour that proposal.
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