Union supports responsible lending bill

The Service and Food Workers Union Nga Ringa Tota is supporting the Consumer Credit (Responsible Lending) Bill which is due for its first reading in Parliament today.

SFWU National Secretary John Ryall says unscrupulous lenders target low income workers offering credit at over inflated rates, without any thought to whether the repayments can be sustained.

“These money lenders are sharks, who think nothing of preying on New Zealand families, regardless of the chaos they create,” says John Ryall.

“Government needs to step in and say enough is enough. Our communities are suffering because they are being plunged deeper and deeper into debt, and laws must be brought in to change this.”

The SFWU is urging MPs to support the bill to its next reading and to select committee, so that a full discussion of the issue can take place.

ENDS

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