The Federal Government is proposing a set of reforms that are aimed at improving competition and consumer outcomes in the credit card market including tightening responsible lending obligations, prohibiting issuers from making unsolicited credit limit increase offers and requiring issuers to provide consumers with online options to initiate card cancellation. In a joint submission with the Consumer Action Law Centre we are broadly supportive of the proposed reforms and pleased that the Government is tackling issues that have long been of concern to consumers.
