Draft addendum to the Responsible Lending Code: COVID-19

The proposed guidance will cover situations where an existing consumer credit contract is varied or replaced for the purpose of reducing a borrower’s financial difficulties brought on by the economic or health impacts of COVID-19. This excludes brand new lending.

The proposed guidance is proposed to expire on 31 October 2020. This is because the guidance is only intended to apply for a relatively short period of time while there is significant disruption and uncertainty.