Australia's government will bring regulation of consumer credit under the jurisdiction of state governments in a couple of phases, the minister for superannuation and corporate law, Nick Sherry, said yesterday.Regulation of mortgage brokers and margin lending will be dealt with in the first phase, while regulation of payday lenders and property spruikers will be dealt with in a second phase.Sherry disclosed the priorities at a talk to a breakfast hosted by Finsia and the Melbourne Centre yesterday morning.Federal and state governments last month resolved to transfer all responsibility for regulation of consumer credit to the federal government. A detailed timetable may be agreed at the next meeting of the Council of Australian Government in October, so enabling legislation and the date of effect of any changes may be well into 2008 for the first phase and perhaps 2009 for the second phase.