Retail bodies Australian National Retailers Association (ANRA) and the Australian Retailers Association (ARA) have welcomed the Government’s decision to exempt retailers from aspects of the national consumer credit laws.
Under the Consumer Credit Protection Bill retail staff would have needed to be trained, accredited, registered and licensed to offer credit assistance to the same level as finance brokers. According to ARA executive director Richard Evans this measure could have cost retailers up to $27,000 in staff training.
“The exemption means retailers will be able to continue to provide consumers with finance options, securing $800 million in retail sales and protecting 24,000 retail jobs that were expected to be lost under the Government’s original proposal.”
ANRA CEO Margy Osmond said the exemption will allow retailers the opportunity to continue to offer their customers a choice of finance options.
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