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Politics
3 mins to read

Non-bank sector wants heavy fines for small lenders removed

Lyn McMorran says people could be penalised for ‘quite a minor breach’.

WATCH: Financial Services Federation executive director Lyn McMorran speaks with Brent Edwards.

Brent Edwards Fri, 02 Aug 2024

While the Financial Services Federation is pleased with the changes to regulations under the Credit Contracts and Consumer Finance Act, it says more needs to be done.

From Wednesday, 11 pages of what Commerce and Consumer Affairs Minister Andrew Bayly called “overly prescriptive” affordability

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Brent Edwards Fri, 02 Aug 2024
Contact the Writer: brent@nbr.co.nz
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Non-bank sector wants heavy fines for small lenders removed
Politics,
105164
true