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

 


Little Help Against Loan Sharks

Little Help Against Loan Sharks


Loan sharks are getting nothing more than a slap on the wrist from the National Government, which refuses to introduce legislation to stop them charging very high interest rates, says New Zealand First.

“We are extremely disappointed in the Government for not putting a cap on interest rates as part of the Credit Contracts and Financial Services Law Reform Bill – this is the reason we voted against the committee stage of the Bill in Parliament yesterday,” says Commerce Spokesperson Andrew Williams.

“The most vulnerable people need every assistance to ensure that they are not ripped off by some of these unscrupulous racketeers.

“Commerce Minister Craig Foss could have taken an extra step and put a cap on interest rates as has been done in the United Kingdom, the US, Canada, Japan, Australia and much of Europe.

“United Future leader Peter Dunne has failed to put his representation of the people first, instead doing a flip flop, as he is wont to do, to save his political skin. He has refused to support an amendment to this Bill to include an interest rate cap.

“Three years ago he supported a similar Bill, which included interest rate caps, but now he has backed off.

“With his vote we could have dealt a blow to loan sharks but now all we have is weaker legislation that will have little effect on the extreme interest rates that loan sharks will charge their customers,” says Mr Williams.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

17 Year Sentences In Baby Moko Case: Attorney General On Plea Bargain

“The Crown’s decisions in this case, including the decision to accept the manslaughter pleas, were motivated by the need to secure convictions for this horrendous killing and to avoid the significant risk that either of the defendants could escape such a conviction because of evidential issues.” More>>

ALSO:

No Rail For New Harbour Crossing: National Giving Up On Rail In Auckland

The National Government’s decision to scrap two planned rail lines in Auckland shows it is giving up on a city-wide rail network in Auckland, and on thousands of commuters who sit in traffic jams every single day, the Green Party said today. More>>

ALSO:

Gordon Campbell: On The Ombudsman’s Verdict On Paula Rebstock And Ian Rennie

Unfortunately, the brave and damning report by Ombudsman Ron Paterson on the “flawed” and “unfair” inquiry conducted by Dame Paula Rebstock into events at MFAT pulls back the veil on a far wider issue. More>>

ALSO:

Charities' Report: Stressed Families - Overstretched Services

“Like so many of the whānau and families they serve social service organisations are under huge financial stress. The support demanded from desperate people in communities is far outreaching the resources available.” More>>

ALSO:

Detention: Wellingtonians Protest Treatment Of Refugees

Peace Action Wellington (PAW) and around 50 Wellingtonians blockaded the Australian High Commission, creating a symbolic detention centre to protest the Australian Government's policy of mandatory offshore detention for refugees and asylum seekers. More>>

ALSO:

Diver's Alarums: Breach Means Training Provider Must Repay $1.47 Million

The New Zealand School of Outdoor Studies is to repay $1.47 million (GST-exclusive) to the Tertiary Education Commission (TEC) following an investigation which showed that some student enrolments between 2009 -2014 could not be validated and that courses were under-delivered against their agreement with the TEC. More>>

ALSO:

Education: Government Plans Suggest Bulk Funding Return

Plans by the Government to return to bulk funding are likely to see increased class sizes and schools most in need missing out on much-needed resources, Labour’s Acting Education spokesperson Grant Robertson says. More>>

ALSO:

Interim Report: Auckland Looks Long Term To Pay-Per-Km Road Pricing

Aucklanders can expect to be paying variable rates per kilometre to travel on the city's most congested roads under an emerging transport strategy being formulated by the government and the Auckland Council. More>>

ALSO:

Despite Promises: Government Extends Iraq Deployment

Cabinet has agreed to extend New Zealand’s contribution to the joint New Zealand-Australia mission to train Iraqi Security Forces until November 2018. More>>

ALSO:

On The 'Terrorism' Card:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news