As part of this, state and territory governments have adopted the National credit code, which improves consumer protection for a wide range of credit activities by requiring: credit transactions be standarised across Australia, responsible lending to ensure that consumers are not enticed into credit contracts they can not afford, information to be presented in a clear and easy to-understand format, lenders not to increase credit card limits to customers who they know would find it difficult to manage a higher limit, the stopping of exploitative practices by predatory lenders, such as using hou...

• Word Count: 1272
• Approx Pages: 5
• Has Bibliography
• Grade Level: Graduate