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21 May 2022 10:51
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  •   Home > News > Politics

    It may be some time before new changes to consumer finance laws are reviewed

    It may be some time before new changes to consumer finance laws are reviewed


    As of December, banks can crack down on borrowers spending, before loans are approved.

    It means even your weekly coffees can have an impact on how much you can borrow.

    Financial Advice New Zealand has written to Commerce Minister David Clark, requesting an urgent meeting ... but hasn't yet heard back.

    A Government spokesperson says officials are aware of the concerns, and MBIE will be engaging further with lenders and consumer advocates ... once the new law has had a chance to settle in.

    © 2022 Newstalk ZB, NZCity

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     20 May: Praise for the Budget Boost for Whangarei Hospital
     20 May: Time will tell how many people will actually benefit from changes to help first home buyers
     20 May: The National Maori Authority Chair is fighting off negative backlash from the Government's latest budget
     19 May: The Finance Minister's leaving the door open for extending a new cost of living payment
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