Draft addendum to the Responsible Lending Code: COVID-19

Submissions closed: 08 June 2020, 5pm

Public submissions are now open on some additional guidance for the Responsible Lending Code.

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.

Last updated: 02 June 2020