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Loan SharksWill you lobby the government for greater regulation of loan sharks - especially those targeting lower socio-economic areas - including capped interest rates and registration

additional information …

MP's Owe Protection to Families From Loan Sharks
Family First Media Release 21 July 2010


Govt chance to reel in loan sharks
NZ Herald May 31, 2010


Family First welcomes policies on loan sharks
Family First Media Release 30 October 2008

John Banks
  Yes
No additional comment provided
Len Brown
  Yes
I helped launch a campaign to regulate and provide greater transparency for loan sharks and wrote to the Prime Minister asking, on behalf of the Council, for him to support legislation to restrict loan shark practices. People face considerable financial hardship after signing up for unfair interest rates and hidden clauses. I will stand up for my community when I see something that is unfair. Many other countries have caps on what interest rates can be charged and I think lenders have a responsibility to make sure those they are lending to are able to meet the repayments.
Andrew Williams
  Yes
Most definitely. I am appalled by the reports of the activities of loan sharks and the resulting financial stress that needy people find themselves in from having dealt with some of these operators. The incredibly high compounding interest rates are crippling. I will lobby to have restrictions placed on the loan sharks and a tighter monitoring/registration system that they must comply with.
Colin Craig
  Yes
No additional comment provided
Simon Prast
  Not Sure
I would have to do some homework on this issue before offering any constructive feedback
Key
Yes
Maybe – and open to the idea
Not Sure – but open to the idea
Maybe
Not Sure
No

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