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Page last updated: 10 April 2025

Credit Contracts and Consumer Finance Act (CCCFA)

Transfer of responsibility for regulation of consumer credit

In March 2024 Cabinet approved the transfer of responsibility for regulating the Credit Contracts and Consumer Finance Act (CCCF Act) from the Commerce Commission (Commission) to the Financial Markets Authority (FMA).  

The transfer of responsibility for regulating the CCCF Act to the FMA is part of the Government’s Financial Services Reforms intended to streamline financial services regulation. This will align the ‘twin peaks’ model of financial sector regulation with the FMA becoming the sole conduct regulator for financial markets.  The Reserve Bank’s role as the prudential regulator remains unchanged.  

Credit Contracts and Consumer Finance Amendment Bill   

The transfer of regulatory responsibility for the CCCF Act to the FMA is being effected by the Credit Contracts and Consumer Finance Amendment Bill (Amendment Bill) introduced to Parliament on 31 March 2025.

The Amendment Bill also makes a number of other changes to the CCCF Act and you can read more about the Amendment Bill and changes to the CCCF Act on the Ministry of Business, Innovation and Employment’s website.  

For a copy of the Amendment Bill and to follow progress of the Amendment Bill through the legislative process visit New Zealand Parliament website.     

Until the date of transfer of responsibility, lenders should continue to engage with the Commission in relation to CCCF Act matters. For any queries about current CCCF Act matters please visit the Commerce Commission website or contact their team via email. 

We intend to update this page with FAQs as the Amendment Bill progresses.  In the meantime, we are working with the Commission to achieve a seamless transfer. 

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