Over the past few months, we have been consulting on AFCA’s Approaches to Responsible Lending and Appropriate Lending to Small Business. The Approaches were developed in response to calls from stakeholders to provide greater clarity around AFCA’s existing approach and to ensure consistency in AFCA complaint outcomes in these complex areas. 

We have now published AFCA’s final Responsible Lending Approach document, alongside a consultation feedback report that outlines how we responded to formal submissions and broader stakeholder feedback. All non-confidential submissions were published in November. We intend to check back in on the operation of the final Responsible Lending Approach in 2024. 

The Appropriate Lending to Small Business Approach document has also now been finalised and will be published, alongside a Consultation Feedback Report, in early 2024. 

We appreciate your feedback and engagement during the consultation process. More information about the consultation process can be found on the New Approaches consultation page.