ASIC became the national regulator for consumer credit and finance broking on 1 July 2010, taking over from the states and territories. This means that home loans, personal loans, credit cards, consumer leases, overdrafts and line of credit accounts, among other products and services, are regulated under Commonwealth legislation and administered by ASIC.
For more information about the new regulatory framework including the legislation, licensing process, general obligations and the timeframe in which the changes will take effect, go to www.asic.gov.au/credit.
ASIC educational materials including fact sheets and booklets are available from their consumer credit portal MoneySmart
For general advice about credit and debt you can access the following fact sheets and brochures which may be of assistance to you.