Independent MP Andrew Wilkie introduced a bill yesterday amending the National Consumer Credit Protection Act that is identical to three bills already tabled.

All four bills mirror legislation the government drafted in 2017 but never acted on, which enhances protections for consumers using small amount credit contracts and consumer leases.

In 2017, the government responded to recommendations of the Independent Review of Small Amount Credit Contract Laws, which recommended a tougher approach to SACCs and consumer leases.

After releasing the draft the government went cold on the reform, which most commentators say was a response to industry lobbying.

Since 2019 identical bills have been introduced by Labor Party MP Tim Hammond, Centre Alliance MP Rebekha Sharkie and one co-sponsored by Labor Senator Jenny McAllister and Centre Alliance Senator Stirling Griff.

The government has included some additional protections in its latest draft bill, an amendment to the NCCP Act that has received a lot of attention for taking responsible lending obligations out of the legislation, except for high-risk lending.

Consumer groups and community legal centres argue that the government’s latest protections covering SACCs and consumer leases are not sufficient and it should return to its 2017 bill.

The states also support stronger protections. A communique issued by the meeting of ministers for consumer affairs last month said: “Australian state and territory ministers acknowledged the Commonwealth’s recent announcement on reforms in this area but called on the Commonwealth to introduce legislation this year to implement the full scope of protections originally proposed in 2017.

“Australian state and territory ministers also agreed to commence preliminary work to identify regulatory ad non-regulatory options that could be implemented by states and territories to supplement any national reform.”