Lenders: We can net the sharks

Sunday Star Times

Rob Stock

10.07.2011

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Mainstream lenders will resist proposed new lending laws and will instead call for tougher enforcement of existing rules.

I'm not sure we neede more legislation in this space. Everything in the Moneylenders (Licensing and Regualtion) Bill 2011 is already covered in other legislation. I'm not sure the Bill would solve the problem for New Zealand, said NZBA chief executive Sarah Mehrtens.