The Ministerial Council on Consumer Affairs has approved the
recommendations contained in the Fringe Credit Providers – Decision
Making Regulatory Impact Statement and Final Public Benefit Test.
Drafting has now commenced on an exposure draft Bill which will be
released for consultation towards the latter half of this year.

"Fringe" credit providers refers to all those credit providers on the fringe of the credit industry including, for example, payday lenders, micro lenders and elements of the non-conforming market.

The recommendations include greater enforcement of existing law as well as intervention to improve consumer protection through amendments to the Consumer Credit Code.