The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – welcomes the third reading 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).
FMA Executive Director, Licensing and Conduct Supervision Clare Bolingford said: “The transfer of responsibility for the CCCFA from the Commerce Commission to the FMA is an important step toward a more streamlined regulatory environment for the financial services sector, offering greater clarity and efficiency for both industry and consumers.
“This isn’t just a change in oversight – it’s a move toward a more connected and coordinated approach to regulating financial market conduct. By aligning credit regulation with broader financial services, we’re creating a framework that better supports responsible lending and consumer protection.
“Introducing a licensing regime for lenders will give the FMA more ways to monitor and supervise lending activity, and will provide a wider set of regulatory tools to support effective oversight.
“We believe regulation works best when it’s built on strong relationships. As an engagement-led regulator, we’ll work closely with lenders and industry stakeholders to ensure the financial services sector delivers fair outcomes and earns the trust of businesses, consumers, and investors. We will, however, use our full range of regulatory and enforcement powers where we find misconduct that has – or is likely to – harm consumers.”
The transfer is happening under the Credit Contracts and Consumer Finance Amendment Bill, which passed its third reading on 30 May 2026. It now goes to the Governor General for Royal assent.
“As we approach 1 July, the FMA and Commerce Commission continue to work together to ensure a seamless transition, including the transfer of experienced credit staff from the Commerce Commission to the FMA. Their knowledge and relationships will help maintain momentum and confidence throughout the transition.
“We’ve also put in place robust governance and security protocols to manage the transfer of information from the Commerce Commission, ensuring that data integrity and privacy are protected every step of the way,” says Ms Bolingford.
About the CCCFA:
The Credit Contracts and Consumer Finance Act 2003 (CCCFA) is New Zealand legislation designed to protect consumers when entering into consumer credit contracts.
It sets out rules for lenders, ensuring they provide clear information and act responsibly, while also giving consumers rights and protections.
From 1 July 2026, regulatory responsibility for the CCCFA will be transferred to the FMA; those governed by the CCCFA will be monitored and supervised by the FMA and subject to the FMA’s regulatory tools.
Currently, under Part 5A of the CCCFA, lenders and mobile traders must be certified by the Commerce Commission. To gain certification, lenders must satisfy the Commerce Commission that their directors and senior managers are fit and proper persons to hold their positions. On 1 July certified lenders and those exempt from certification will be deemed to hold an FMA licence for their consumer credit service.
Until 1 July 2026, lenders and consumers should continue to engage with the Commerce Commission on CCCFA matters.
Read the FAQ about the transfer on our website.
The Amendment Bill also makes a number of other changes to the CCCFA. More information here on the Ministry of Business, Innovation and Employment’s website.
For any queries about current CCCFA matters please visit the Commerce Commission website or contact their team via email.
