Central Banking

Reform of credit card schemes in Australia

Statement by the Reserve Bank of Australia on credit card reforms, 1 July.

Source: RBA

When the Reserve Bank announced its reforms to credit card schemes on 27 August 2002, it foreshadowed the preparation of a Regulation to ensure that participants in schemes that comply with the Payment Systems (Regulation) Act would not be at risk under the Trade Practices Act.

A copy of the Regulation is attached.