Significant Review of Debt Collection
In 2009, it was agreed that the regulation of debt collection would be placed on the Ministerial Council on Consumer Affairs’ agenda, with the aim to minimise the regulatory overlap between the regulation and licensing of debt collectors and the regulation of debt collection currently administered by the states and territories, and the new national consumer credit regime.
Debt collection harmonisation regulation – options paper (PDF size: 653kb) has now been released for consultation purposes. The paper discusses the following areas of regulation:
- Licensing
- Conduct
- Trust accounting
- Complaints handling
- Administration
- Information standards
- Educational requirements.
AICM invites members and fellow credit professionals to submit their comments by 5 pm (AEST) on Friday 18 November, 2011 via email: aicm@aicm.com.au
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