Banks need to make CCCFA easy for advisers: Gough
Hardly anyone has anything good to say about the Credit Contracts and Consumer Finance Act (CCCFA) as it forced its way through parliament, and they were even less complimentary about what they saw as its rushed timing.
But like it or not, the law comes into effect on December 1 and everyone has to comply.
The bravest of brave faces has come from the Bankers Association, which declared that “banks are responsible lenders, and support the aims of the law”.
Earlier, the association complained the CCCFA was being rushed through without sufficient clarity on what had to be done and without enough time to do it.
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