RG 209
Credit licensing: Responsible lending conduct
Issued 9 December 2019. This is a guide for credit licensees and credit applicants.
In plain English
This guide explains responsible lending obligations for credit licensees and applicants.
RG 209 applies to credit licensees and those seeking a credit licence. It outlines how to assess a borrower’s ability to repay a loan. It covers verifying income and expenses. It also details obligations around unsuitability. The guide was issued on 9 December 2019.
Why it matters
Credit providers must ensure loans are suitable. Failing to do so can lead to consumer hardship. This guide helps businesses meet their legal obligations and protect customers.
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Issuing regulator
ASIC →Topics
Source: https://www.asic.gov.au/regulatory-resources/find-a-document/regulatory-guides/rg-209-credit-licensing-responsible-lending-conduct/. Rules Mate indexes + summarises; always verify against the regulator's live publication.