Changes have been made to the National Consumer Credit Protection Act 2009 (NCCPA) and the National Consumer Credit Protection Regulations 2010 (NCCPR) which provide protection for customers who enter into credit contracts.

The amendments introduced by the Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Act 2024 and the National Consumer Credit Protection Amendment (Low Cost Credit) Regulations 2025  are effective on 10 June 2025 and extend consumer protection by regulating low cost credit contracts (LCCC), which include Buy Now Pay Later (BNPL) products.

These changes are intended to strike the right balance between maintaining the benefits of consumer access to credit products such as BNPL, while providing appropriate and proportionate consumer protection.