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:

Arming Police: Frontline Police To Routinely Carry Tasers

"In making the decision, the Police executive has considered almost five years worth of 'use of force' data… It consistently shows that the Taser is one of the least injury-causing tactical options available when compared with other options, with a subject injury rate of just over one per cent for all deployments." More>>

ALSO:

Gordon Campbell: On D-Day For Dairy At The TPP

While New Zealand may feel flattered at being called “the Saudi Arabia of milk” it would be more accurate to regard us as the suicide bombers of free trade. More>>

ALSO:

Leaked Letter: Severe Restrictions on State Owned Enterprises

Even an SOE that exists to fulfil a public function neglected by the market or which is a natural monopoly would nevertheless be forced to act "on the basis of commercial considerations" and would be prohibited from discriminating in favour of local businesses in purchases and sales. Foreign companies would be given standing to sue SOEs in domestic courts for perceived departures from the strictures of the TPP... More>>

ALSO:

"Gutted" Safety Bill: Time To Listen To Workplace Victims’ Families

Labour has listened to the families of whose loved ones have been killed at work and calls on other political parties to back its proposals to make workplaces safer and prevent unnecessary deaths on the job. More>>

ALSO:

Regulators: Govt To ‘Crowd-Source’ Regulatory Advice

A wide-ranging set of reforms is to be implemented to shake up the way New Zealand government agencies develop, write and implement regulations. More>>

ALSO:

Board Appointments: Some Minister Appoint Less The 3 In 10 Women

“It’s 2015 not 1915: Ministers who appoint less than 3 in 10 women to their boards must do better, they have no excuse but to do better,” said Dr Blue. More>>

Gordon Campbell: On The 1990s Retro Proposals For Our Health System

As we learned yesterday, the reviews propose that the democratically elected representation on DHBs should be reduced, such that community wishes will be able to be over-ridden by political appointees. In today’s revelations, the reviews also propose a return to the destructive competitive health model of the 1990s. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news