Responsible Lending complaints are about consumer credit provided for personal, domestic or household purposes, such as personal loans, credit cards, and home loans. The Responsible Lending Approach explains how we consider these complaints, including:
- how we assess a financial firm’s compliance with responsible lending obligations
- how we determine a fair outcome where a firm breaches its responsible lending obligations, and
- how we calculate loss and assess benefits to determine compensation.
Consultation period
The consultation is open from Monday 31 July 2023 to Monday 11 September 2023.
All feedback and submissions on AFCA's Responsible Lending Approach should be sent to AFCA by Monday 11 September 2023. AFCA will consider and respond to consultation submissions and feedback after the consultation period has closed.
Read AFCA’s Responsible Lending Approach
Read AFCA’s Responsible Lending Approach and provide your feedback through one of the channels below.
Read the Responsible Lending Consultation Paper
The Responsible Lending Consultation Paper, explains the purpose of the approach document and supports stakeholders in their submissions.
Feedback and submissions
AFCA invites all stakeholders to provide feedback or make a submission through one of the following channels:
email general questions and comments to us at consultation@afca.org.au
send us a written submission by emailing consultation@afca.org.au
post/mail us a written submission to:
Lead Ombudsman – Banking and Finance
Australian Financial Complaints Authority
GPO Box 3
Melbourne VIC 3001
Please note: all feedback and submissions on AFCA's Responsible Lending Approach should be sent to AFCA by Monday 11 September 2023. AFCA will consider and respond to consultation submissions and feedback after the consultation period has closed.
Key dates and milestones
| AFCA's Responsible Lending Approach | |
| Date | Milestone |
| Monday 31 July 2023 |
Consultation on AFCA’s Responsible Lending Approach document opens |
| Monday 11 September 2023 |
Consultation on AFCA’s Responsible Lending Approach document closes |
| September – November 2023 |
AFCA to consider and respond to consultation submissions and feedback |
| November 2023 | AFCA to publish submissions received |
| Late 2023 – early 2024 |
AFCA publish updated final Approach (subject to external approval) |
