Australian Risk Climate: Responsible Lending

Posted by Joachim Bartels | Dec 10, 2012 | Australia, Regulatory News, Veda | 0 |

From 1 March 2013, small amount lenders will be required to undertake additional assessments of borrowers in accordance with the NCCP Enhancement Act for an offer of credit or an increase in credit limits – and in particular, assessment of previous lending relationships held by borrowers with small amount lenders. Veda’s enhanced credit report will assist lenders meet these new requirements without onerous changes to their systems and processes, as many lenders already access credit reports as part of their underwriting and responsible lending procedures.

Source: Veda Advantage – A member of BIIA

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Joachim Bartels

Joachim C Bartels is a co-founder, director, head of information resources and Editor-in-Chief of BIIA. In his capacity as Editor-in-Chief he is responsible for the selection of relevant information content concerning industry insights, trends, technological developments, standards and policies impacting BIIA members in particular and the business information industry in general.

The BIIA library is approaching 10,000 news items and best demonstrated practices. BIIA members receive regular news alerts on key developments in the industry and the regulatory environment. The BIIA readership is widespread: between 4 to 5 thousand unique visitors access BIIA.com per month.