Australia’s credit reporting framework is a fundamental aspect of the financial infrastructure, enabling lenders to assess the creditworthiness of individuals and businesses. However, it is essential to review and adapt this framework to reflect technological, economic, and cultural changes; policy objectives; and consumer expectations. There have been major regulatory and commercial changes in the credit and debt space since the current credit reporting framework was put into place including since the last comprehensive review. The current regime is no longer aligned with Australia’s consumer credit arrangements or with consumer expectations.
