Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Financial Literacy campaign focuses on Pacific communities

Hon Craig Foss
Minister of Consumer Affairs

Hon Peseta Sam Lotu-Iiga
Minister of Pacific Island Affairs

13 March 2014

Financial Literacy campaign focuses on Pacific communities

Consumer Affairs Minister Craig Foss and Pacific Island Affairs Minister, Peseta Sam Lotu-Iiga welcomed the launch of the 2014 Talanoa campaign. Talanoaencourages Pacific communities to ask for help and seek redress when they have problems with loans.

“One of the main aims of the campaign is to help Pacific communities to be more proactive when lodging complaints if things go wrong when borrowing money,” says Mr Foss.

“Pacific communities are often targeted by third-tier lenders, particularly for motor vehicle and personal loans. Some of these loans come with high interest rates and onerous repayment schedules. It is important that families know where to go for support and assistance,” says Mr Foss.

“During the recession, many Pacific families fell on hard times and borrowed money as a last resort,” says Mr Lotu-Iiga.

“There are families in my own electorate who are burdened with loans they are incapable of repaying. Some of these loans should never have been granted. It’s important that people know that advice is available if they are struggling with a debt crisis,” says Mr Lotu-liga.

Pacific community leader Laauli Michael Jones is taking part in the campaign this year, encouraging people to reach out for help when they need it. Talanoa tells the stories of real Pacific families who have learned to manage their finances and have worked their way out of debt.

“The Government will not tolerate loan sharks in our communities. The Credit Contracts and Financial Services Law Reform Bill is progressing through parliament. It will strengthen protections for borrowers and make wide-ranging changes to our consumer credit and repossession laws. We’re committed to promoting responsible lenders and informed consumers,” says Mr Foss.

The campaign has been launched in South Auckland and Porirua communities and will run until mid-April.

For further information visit www.loanstress.govt.nz

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Midwives On Pay Equity: Historic Bill Of Rights Case For High Court

“We have been left with no choice.” That from Karen Guilliland, the Chief Executive of the New Zealand College of Midwives, as the organisation prepares to file a pay parity discrimination case on the basis of gender under the NZ Bill of Rights Act in the High Court. More>>

ALSO:

Gordon Campbell: On The Children’s Commission Report On CYF

Accusing the overworked and underfunded staff at Child, Youth and Family of a “dump and run culture of neglect” is the kind of luxury that a Children’s Commissioner can afford to indulge in from his own comfy perch in the bureaucracy. More>>

ALSO:

Mt Eden Prison: Serco Inquiry Extended

A two month delay to the Government investigation into prison fight clubs shows the extent of problems within the Serco circus, says Labour’s Corrections spokesperson Kelvin Davis. More>>

ALSO:

Health And Safety: Late Addition Of National Security Provisions A Concern

The New Zealand Law Society has expressed its significant concerns at the last-minute addition to the Health and Safety Reform Bill of provisions for a closed material procedure for court proceedings where national security is involved. More>>

ALSO:

Rugby And Beer: World Cup Alcohol Bill Passes

ACT MP David Seymour’s Sale and Supply of Alcohol (Extended licensing hours during Rugby World Cup) Bill completed its third reading by 99 to 21... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news