From www.fintechlawblog.com: The Australian Government released a draft of the National Consumer Credit Protection Amendment (Low Cost Credit) Regulations 2025, which will regulate Buy Now Pay Later providers as ‘low cost credit contract’ (LCCC) providers starting June 10, 2025.

ASIC has published a consultation paper seeking feedback on a draft Regulatory Guide that outlines key obligations for LCCC providers, including the requirement to prepare unsuitability assessment policies and adhere to fee caps.