Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

CAB welcomes new consumer credit law

CAB welcomes new consumer credit law

The New Zealand Association of Citizens Advice Bureaux welcomes the Consumer Finance and Credit Contracts Act, saying it gives overdue protection to borrowers, especially from loan sharks.

The Association’s Chief Executive Officer, Nick Toonen, says the Act adopted two specific amendments which the Association recommended in its submission to the Commerce Committee.

Toonen says, “Borrowers should be extremely pleased to see a hardship provision included in the law. This will mean that if they unexpectedly find themselves in financial difficulty the creditor will be obliged to be lenient in the short term in order to assist the borrower to fulfill their obligations in the longer term.

“Also, people who guarantee credit contracts for their family or friends are given the same protections and are provided with the same information as borrowers.

“Citizens Advice Bureaux experience is that people who go to ‘lenders of last resort’ often become financially stretched with credit payments and high interest rates. This new law will ensure that consumers are better informed by lenders about the full cost of credit. We look forward to March 2005 when the law takes effect.”

The network of 87 Citizens Advice Bureaux throughout New Zealand means the Association is well placed to comment on issues of social justice which affect people throughout the country. CAB plays an important role in feeding back this evidence to government and a range of agencies through submissions, reports and media commentary. By doing this, CAB can have a positive effect on the laws and policies which affect the people of New Zealand.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Scoop 3.0: How You Can Help Scoop’s Evolution

Entering into its third decade of operation, the Scoop news ecosystem is set to undergo another phase of transformation and evolution.

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

 
 

Speaking Of Transport: Public Engagement On Wellington Scenarios

“Our work on possible solutions for Wellington’s transport future is ongoing, but has progressed to the stage where we’re ready to share our ideas with the public and seek their feedback to help guide our next steps...” More>>

ALSO:

Parental Leave: National's Time-Sharing Change Fails

National has proposed a change to the Parental Leave and Employment Protection Amendment Bill that would allow both parents to take paid parental leave at the same time, if that is what suits them best. More>>

ALSO:

Train Free Thursday: Workers Strike To Defend Terms Of Employment

"They signed up to these conditions a year ago when they got the contract for Wellington's rail services. Now they're trying to increase profits by squeezing frontline workers." More>>

ALSO:

Seclusion: Ombudsman Emphasises Importance Of Monitoring

Disability Rights Commissioner Paula Tesoriero says that while there have been changes to the Education (Update) Amendment Act 2017 to prohibit the use of seclusion, the report is an important reminder of the importance of regular monitoring of schools. More>>

ALSO:

United Future History: "All Good Things Must End"

'We’re extremely proud of what we’ve achieved over the past 15 years, working alongside the government of the day, both National and Labour.' Mr Light told members on Monday. More>>

Gordon Campbell: On The TPP Outcome, And The Hobbit Law

Somehow the Trans Pacific Partnership trade deal has come lurching back from the dead – and as predicted in this column last week, the member countries gathered in Vietnam have announced a deal in broad principle, shunted aside until a later date the stuff on which they don’t agree, and declared victory. More>>

Agreeing To Differ: Greens Maintain Opposition To TPPA
“The Green Party has long opposed the TPPA. The new proposed deal, which came out of the weekend’s talks, still contains key ISDS concessions to corporations that put our democracy at risk, so our position remains the same,” said Green Party trade spokesperson Golriz Ghahraman. More>>

ALSO:

Monitoring Report: A New Chapter For Children’s Rights In New Zealand?

The Children’s Commissioner is calling on the country to embrace children’s rights to ensure their overall well-being. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election