What Is Consumer Credit Code

The Uniform Consumer Credit Code (UCCC) is a code of conduct that governs consumer credit transactions. It provides guidelines for laws related to the purchase and use of all types of credit products from mortgages to credit cards.

What is consumer credit Code in Australia?

The National Credit Code was a part of a larger reform process that introduced a licensing regime for lenders and brokers, which includes obligations such as responsible lending and mandatory membership of the Australian Financial Complaints Authority (AFCA).

What is considered consumer credit?

Consumer credit is personal debt taken on to purchase goods and services. A credit card is one form of consumer credit. Although any type of personal loan could be labeled consumer credit, the term is more often used to describe unsecured debt that is taken on to buy everyday goods and services.