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Page last updated: 01 July 2026

Credit Contracts and Consumer Finance Act (CCCFA)

On 1 July 2026 the Financial Markets Authority (FMA) took on regulatory responsibility for the Credit Contracts and Consumer Finance Act 2003 (CCCFA), becoming the single conduct regulator for financial markets, including consumer credit. 

The transfer was enacted under the Credit Contracts and Consumer Finance Amendment Act 2026.

Read our FAQs on the transfer here: CCCFA transfer frequently asked questions 

Credit Contracts and Consumer Finance Amendment Act

The Amendment Act made a number of other changes to the CCCFA including:  

  • Consumer credit lender certification has been replaced by the market services licensing regime set out in the Financial Markets Conduct Act. Existing lenders who were certified (or exempt from certification on the basis that they are licensed/authorised by the FMA or Reserve Bank) prior to the effective date of the amendments to the CCCFA (1 July), are automatically transitioned to a licence. 
  • Credit contracts are now within Part 2 of the Financial Markets Conduct Act. This means the FMA has primary regulatory and enforcement responsibility for misleading and deceptive conduct, false and misleading representations, and unsubstantiated representations in relation to credit contracts, alongside all other financial products and financial services. 
  • The FMA can now issue stop orders and direction orders in relation to certain CCCFA breaches and Part 2 Financial Markets Conduct Act breaches in relation to credit contracts. 
  • The personal due diligence duties previously imposed on directors and senior managers have been repealed for future lending. 
  • Lenders are no longer required to submit annual returns under the CCCFA. 
  • The settings applying to disclosure breaches has changed. Courts may now determine what relief is appropriate, including whether borrowers should be relieved from paying some borrowing costs. 
  • New provisions allow greater use of digital disclosure and introduce changes relating to guarantors, repayment waivers and extended warranties. 
  • The FMA may grant exemptions from compliance with CCCFA provisions, and make declarations about whether particular arrangements are credit contracts, consumer credit contracts or high-cost consumer credit contracts. 

Read a more detailed summary of the changes made by the Amendment Act here [246 KB]

 

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