A shake up to banking laws, with new rules to make lending easier

The Credit Contracts and Consumer Finance Act was introduced in 2021, aiming to stop exploitative borrowing.

But new Minister, Andrew Bailey says it's had bad side-effects for those seeking loans.

CEO of Money Sweetspot Sasha Lockley says the legislative back-and-forth has been confusing.

She says people haven't been able to access loans, while others have been offered ones they cant afford.