National Consumer Credit Protection Amendment (Mandatory Credit Reporting and Other Measures) Act 2021 (5 of 2021)

Schedule 2   Financial hardship and other amendments

Part 1   Financial hardship amendments

Privacy Act 1988

12   After section 21E

Insert:

21EA Financial hardship information must be disclosed

If:

(a) a credit provider discloses to a credit reporting body repayment history information about an individual in relation to a monthly payment under section 21D; and

(b) financial hardship information about that individual exists in relation to that monthly payment;

the credit provider must, at the same time, disclose the financial hardship information to the credit reporting body.

Civil penalty: 500 penalty units.