Summary
Amends the: National Consumer Credit Protection Act 2009 to provide that: credit fees or charges relating to credit contracts must be reasonable; and the Australian Securities and Investments Commission may apply for a court order to annul or reduce a credit fee or charge it determines not to be reasonable; and Banking Act 1959 to require the Australian Prudential Regulation Authority to prohibit banks with a market share of more than 10 per cent from imposing early termination fees in relation to loan agreements or mortgage contracts.