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

 

Family First Welcomes Policies on Loan Sharks

 


MEDIA RELEASE

30 October 2008

Family First Welcomes Policies on Loan Sharks

Family First NZ is welcoming stricter regulations on loan sharks being signaled by Labour and National, and is encouraging other parties to also take a strong stand on this issue.

“Vulnerable families are falling victim to exorbitant interest rates and draconian penalty clauses,” says Bob McCoskrie, National Director of Family First NZ.

“Many of these families have poor English and simply don’t understand the contract they are signing or the potential consequences if they default.”

“Some families are under incredible pressure because of the rising costs and these loan sharks are simply feeding off their vulnerability.”

Many of the issues around domestic and family violence are related to the stress of payments to these loan sharks, especially by low-income families. The loan sharks also specifically target low socio-economic areas where the desperation for fast cash is prevalent.

Family First would like a maximum interest rate to be able to be charged on these contracts, a standard default clause with no surprises, compulsory registration of lenders, and the availability of legal advice for vulnerable families.

“At the end of the day, you can’t change people’s spending habits or unwise money choices, but we should place as many safeguards in place as possible to prevent exploitation of these people.”

ENDS


 

 
 

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Another Leader Exiting: Statement From Peter Dunne

I have concluded, based on recent polling, and other soundings I have been taking over the last few weeks, that, the volatility and uncertainty notwithstanding, there is now a mood amongst Ōhāriu voters for a change of MP, which is unlikely to alter...

“I have therefore decided that it is time for me to stand aside, so the people of Ōhāriu can elect a new electorate MP. More>>

 

Gordon Campbell: On Labour’s Campaign Launch

One of the key motifs of Ardern’s speech was her repeated use of the phrase – “Now, what?” Cleverly, that looks like being Labour’s response to National’s ‘steady as it goes’ warning against not putting the economic ‘gains’ at risk. More>>

ALSO:

Lyndon Hood: Social Welfare, Explained

Speaking as someone who has seen better times and nowadays mostly operates by being really annoying and humiliating to deal with, I have some fellow feeling with the current system, so I’ll take this chance to set a few things straight.. More>>

ALSO:

Deregistered: Independent Board Decision On Family First

The Board considers that Family First has a purpose to promote its own particular views about marriage and the traditional family that cannot be determined to be for the public benefit in a way previously accepted as charitable... More>>

ALSO:

Transport Policies: Nats' New $10.5bn Roads Of National Significance

National is committing to the next generation of Roads of National Significance, National Party Transport Spokesperson Simon Bridges says. More>>

ALSO:

Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>

ALSO:

Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>

ALSO:

Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>

ALSO:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election