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Govt set to remove "overly prescriptive" elements of finance act

Author
Newstalk ZB,
Publish Date
Wed, 31 Jul 2024, 7:26am
(Photo / Getty Images)
(Photo / Getty Images)

Govt set to remove "overly prescriptive" elements of finance act

Author
Newstalk ZB,
Publish Date
Wed, 31 Jul 2024, 7:26am

New Zealanders will soon be able to access finance with confidence. 

From today, the Government's removing the affordability regulations from the Credit Contracts and Consumer Finance Act and updating the Responsible Lending Code.  

Commerce and Consumer Affairs Minister Andrew Bayly says they're revoking 11 pages of overly prescriptive affordability regulations introduced by the last government. 

He told Mike Hosking it had impacted the most vulnerable when they needed finance the most. 

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