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New Credit Card Internet Laws

Discussion in 'Money Management' started by Credit Mad, 15th Mar, 2011.

  1. Credit Mad

    Credit Mad New Member

    Joined:
    15th Mar, 2011
    Posts:
    1
    Location:
    Perth Australia
    In Australia new credit laws have been introduced to force any websites advertising or comparing finance products, including credit cards to abide by a new set of strict financial reguations. In order to compare credit cards with a website will now need to apply for a credit liscense the same as a bank, financial advisor or mortgage broker would need.

    By doing this the Australia government is hoping to make liable any website giving mis-onformation or not abiding by the new finance advertising laws. Do you think this is a good idea and should other countries follow suite, or is this another expample of government trying to interfere in the expansion of the world wide web.
     
    Last edited by a moderator: 17th Sep, 2016