National consumer credit laws, financial exclusion and interest rate caps : The case for diversity within a centralised framework
Howell, Nicola (2009) National consumer credit laws, financial exclusion and interest rate caps : The case for diversity within a centralised framework. Competition and Consumer Law Journal, 17(2), pp. 212-233.
Australia is going through a major reform of consumer credit regulation, with the implementation of a proposal to transfer regulatory responsibility from the State and Territory Governments to the Commonwealth Government. While the broad policy approach is supported, the reform process has missed a significant opportunity to engage directly with issues of financial exclusion and with the potential role of regulation to reduce financial exclusion. The imposition of an interest rate cap can limit the impact of financial exclusion. However, the future of the existing interest rate caps is uncertain, given the diversity of approaches, and the heated debate that surrounds this issue. In the absence of support for regulatory initiatives to increase the availability of low cost, small loans, permitting regulatory diversity on this issue of interest rate caps, within an otherwise centralised regulatory framework., can minimise the impact of financial exclusion on consumers.
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|Item Type:||Journal Article|
|Keywords:||consumer credit, financial exclusion, interest rate caps, payday loans, uniform laws|
|Subjects:||Australian and New Zealand Standard Research Classification > LAW AND LEGAL STUDIES (180000) > LAW (180100) > Law not elsewhere classified (180199)|
Australian and New Zealand Standard Research Classification > LAW AND LEGAL STUDIES (180000) > LAW (180100) > Commercial and Contract Law (180105)
|Divisions:||Current > QUT Faculties and Divisions > Faculty of Law|
Current > Schools > School of Law
|Copyright Owner:||Copyright 2009 LexisNexis|
|Deposited On:||20 Nov 2009 11:34|
|Last Modified:||29 Feb 2012 23:59|
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