The Commerce Commission welcomes the passing of the Credit Contracts and Consumer Finance Amendment Bill, which confirms 1 July 2026 as the date for the transfer of regulatory responsibility for the Credit Contracts and Consumer Finance Act 2003 (CCCFA) to the Financial Markets Authority (FMA).
Acting General Manager, Office of the Board and Chief Executive, Sarah Bartlett says the Commission has been working closely with the FMA since the initial announcement of the transfer to ensure a smooth and well‑governed transition so that information is transferred safely and appropriately, with strong protections in place for data integrity and privacy.
“The passage of the Bill provides clarity for industry and consumers, and we are focused on supporting a seamless handover of responsibilities to the FMA. This includes the transfer of our experienced credit team to the FMA, where they will continue this important work.
“We are proud of our last 20 years as the regulator of the consumer credit function and the dedicated work of our people at the Commission. They have played a critical role in ensuring lenders’ compliance with the Act, and taking enforcement action where necessary.
“Combined, their expertise, relationships, and commitment to consumer protection have shaped the credit landscape and supported fairer outcomes for New Zealanders,” says Ms Bartlett.
The Commission is reminding lenders and consumers to continue engaging with the Commerce Commission on CCCFA matters until 1 July 2026.
Background
More information about the Bill’s progression can be found on the Parliament website.
More information about the Transfer of responsibility for regulation of consumer credit is available on the Commission’s website.
