Developing a Consumer Policy for the 21st Century

Productivity Commission, Review of Australia's Consumer Policy Framework, Draft Report Vol 2 (2007) 10.

For example, Muris Timothy , The Federal Trade Commission and the Future Development of US Consumer Protection Policy, George Mason Law & Economics Research Paper No 04–19, <http://ssrn.com/abstract=545182> at 12 June 2008.

Productivity Commission, above n 1, 6.

Howell Nicola and Wilson Therese , ‘In Competitive Markets, is there still a need for Consumer Protection and Fair Trading Regulation’ (Paper presented to the International Association of Consumer Law Conference, Capetown, April 2007) 22.

For example, Productivity Commission, above n 1, 77.

For example, it is a licence condition for Australian Financial Services Licence holders to belong to an ASIC-approved external dispute resolution scheme: Corporations Act 2001 (Cth) s 912A(g).

Organisation for Economic Co-operation and Development, Roundtable on Demand-side Economics for Consumer Policy, Summary Report, Directorate for Science, Technology and Industry, Committee on Consumer Policy, DSTI/CP(2006)3/ FINAL (2006) 39–41, see <www.oecd.org/dataoecd/31/46/36581073.pdf> at 12 June 2008.

A 2005 survey of financial literacy found a strong correlation between low levels of financial literacy and lower socio-economic status: AC Nielson and ANZ, ANZ Survey of Financial Literacy in Australia (2005) 8.

For example, the state and territory fair trading agencies develop and distribute a range of hard copy brochures and website material.

For example, Russell Roslyn , Saver Plus, improving financial literacy through encouraging savings: Evaluation of Saver Plus phase 1 – final report (n.d.) 7, see <www.anz.com.au/Documents/AU/Aboutanz/Community/Programs/SaverPWSReportFA.pdf> at 12 June 2008.

Centre for Credit and Consumer Law Research, forthcoming.

Ramsay Iain , ‘Consumer Credit Regulation as ‘The Third Way’?’ (Keynote Address at the Australian Credit at the Crossroads Conference, Melbourne, 9 November 2004) 15, see <www.consumer.vic.gov.au> at 12 June 2008 (Links to Publications – Conference & Seminar Proceedings).

As is happening with respect to the proposed changes to Consumer Credit Code disclosure, see <www.creditcode.gov.au/display.asp?file=/content/watsnew.htm> at 12 June 2008.

Sylvan Louise , ‘Activating competition: The consumer—competition interface’ (2004) 12 Competition and Consumer Law Journal 191, 193.

Duggan Anthony , ‘Saying Nothing with Words’ (1997) 20 Journal of Consumer Policy 69.

Ministry of Consumer Affairs (New Zealand) Creating confident consumers: The role of the Ministry of Consumers Affairs in a dynamic modern economy (2003), see <www.consumeraffairs.govt.nz/aboutus/review/report/index.html> at 12 June 2008.

Department of Trade and Industry (UK), A Fair Deal for All: Extending Competitive Markets: Empowered Consumers, Successful Business), 3, see <www.berr.gov.uk/files/file23787.pdf>.

See Consumers International <www.consumersinternational.org/Tmeplates/Internal.asp?NodeID=89647> at 12 June 2008

For example, Sunstein Cass R ‘Boundedly Rational Borrowing’ (2006) 73 The University of Chicago Law Review 249; Camerer Colin ‘Regulation for Conservatives: Behavioral Economics and the Case for ‘Asymmetric Paternalism’’ (2002–2003) 151 University of Pennsylvania Law Review 1211.

See Fair Trading Act 1999 (Vic), Part 2B.

Banking and Financial Services Ombudsman Terms of Reference 1.3, see <www.bfso.org.au/abioweb/ABIOWebSite.nsf/Level2Docs/385C2D0F3E87335CA256C0E0045047A/$File/BFSO+Terms+OF+Reference+1-1-07.pdf?OpenElement> at 12 June 2008.

Code of Banking Practice 2003, clause 2.2.

For example, Ramsay Iain ‘The Alternative Consumer Credit Market and the Financial Sector: Regulatory Issues and Approaches’ (2001) 35(3) Canadian Business Law Journal 325, 374.

Ibid 367.

Productivity Commission, above n 1, 24.

Ibid 34.

Ibid 37.

Ibid 39.

Ibid 2.

Howell and Wilson , above n 4, 21. In this paper, Therese Wilson and I argued that the practice of the previous Commonwealth government was in fact focused more on competition as the end goal.

Productivity Commission, above n 1, 78.

Ibid 76.

Ibid 204.

Ibid 208.

Ibid Recommendation 11.1.

Ibid 213–216.

Ibid 42 (Draft recommendation 3.1).

Ibid 42.

Joint consumer submission to the Productivity Commission ibid 4.

Productivity Commission, ibid, 45.

See for example, Pearson Gail , ‘Risk and the consumer in Australian financial services reform’ (2006) 28(1) Sydney Law Review 99, 100.