Retail staff who arrange point-of-sale finance for consumers in connection with the sale of goods and services may be required to comply with the National Consumer Credit Protection Act.The Government is conducting a review of the regulatory oversight of the point-of-sale credit sector to determine the appropriate level of regulation of persons who assist consumers who apply for credit when buying goods. Treasury issued a discussion paper yesterday, The Exemption of Retailers form the National Consumer Credit Protection Act 2009, and has called for submissions by March 25.The National Consumer Credit Protection Act regulates people who "engage in credit activities", including brokers and others who assist consumers in applying for credit.The Government has previously exempted so-called vendor-introducers - businesses that arrange finance in connection with the provision of goods and services - from the NCCP, pending a review of the sector.Treasury estimates that more than 12,000 retailers and 630 vehicle dealerships employ vendor-introducers.The discussion paper identifies a number of regulatory gaps. While vendor-introducers may have a significant role in the consumer's product selection, they are not required to meet any standards, and the consumer credit regulator (the Australian Securities and Investments Commission) has no power to ban an introducer who is incompetent or dishonest.Vendor-introducers can recommend a credit product without having to do any assessment regarding its suitability.And there are limitations on the ability of consumers to seek remedies for the conduct of vendor-introducers.The discussion paper cites research by Justin Malbon, a professor in the Faculty of Law at Monash University, which found that consumers purchasing items such as household goods were often focused on obtaining the products and were committed to the transaction. As a result, they may make decisions in relation to point-of-sale finance on the basis of convenience rather than because of the terms of the credit offered.The discussion sets out three options. The first is to maintain the status quo by retaining the exemption for vendor-introducers.The second is to require vendor-introducers to comply with the NCCP Act and be regulated in much the same way as credit representatives are now.The third is to modify the application of the obligations of the Act according to the role vendor-introducers play. For example, a vendor-introducer acting as a broker would be required to hold an Australian Credit Licence, while an introducer acting on behalf of a single financier would be subject to limited regulation.