Lenders targetted
Consumer credit law changes introduced last week are the biggest in a decade, Consumer Affairs Minister Craig Foss says.
Sunday, April 21st 2013, 8:18PM
The Consumer Credit and Financial Services Law Reform Bill was introduced this week.
Lenders will be required to take responsibility for the likely effect of credit they provide and will only be able to lend if it meets the borrowers' requirements and the borrower can service the loan without hardship.
Lenders may be banned if they do not lend responsibly.
| « Dominion, North South Finance executive guilty | Sovereign rating affirmed » |
Special Offers
Comments from our readers
No comments yet
Sign In to add your comment
|
|
Printable version |
|
Email to a friend |
