Thursday, August 11, 2011

[pima.nius] Labour PR: Community expects cooperation on loan sharks

12:15 PM |


Carol

BEAUMONT 

Consumer Affairs Spokesperson

Description: Description: Description: Description: Description: Labour Logo - red                       

 

10 August  2011                                                            MEDIA STATEMENT

Community expects cooperation on loan sharks

On the eve of the third summit in five years on predatory lending, an attempt today to show bipartisan commitment to definitive action was rebuffed in Parliament, says Labour's spokesperson for Consumer Affairs Carol Beaumont.

"National is more concerned with political one-upmanship on this issue than combatting the adverse effects loan sharks have in our community," Carol Beaumont said.

"This afternoon in Parliament I sought to have both my Responsible Lending Bill and National MP Peseta Sam Lotu-Iiga's Money Lenders Bill referred to select committee for scrutiny and public submission. This move was denied.

"Advancing both bills, one addressing interest rate caps and responsible lending, and the other providing for  matters like registration and new offences, to select committee would have demonstrated a commitment  from the Government to bipartisan progress on the condemnation of loan sharks and their exploitation of our most vulnerable communities.

"The Government again mistakes motion for movement on this issue. Allowing both Bills to progress to select committee would have shown those participating in the Financial Summit held in Auckland tomorrow a real commitment to the fight against predatory lending.

"The community, irrespective of political persuasion, want to see a clamp down on predatory lending. Advancing this legislation would in no way preclude other forms of action arising from the Summit or the revival of the long delayed review of the Credit Contracts and Consumer Finance Act. It simply represents another missed opportunity.

"The Stop Loan Shark campaign I launched early last year has put real scrutiny on the issue of predatory lending. While legislation could already be in place had the government not pre-emptively defeated my Members Bill last year, tomorrow's summit shows the Government is feeling pressure from the community that action is urgently needed. 

"I sincerely hope that real action, including legislation that deals with issues like excessive interest rates, is the outcome of tomorrow's Summit. 

"Labour will cooperate to progress any actions that will rein in loan sharks.  Vulnerable consumers have waited long enough," Carol Beaumont said.

Contact:  Carol Beaumont 027 275 7374

Paid for by Vote Parliamentary Service and Authorised by Carol Beaumont, MP, Parliament Buildings, Wellington

 

Sarah Austen-Smith

Press Secretary
Office of Hon Phil Goff
04 817 9764 | 021 2219865

 

facebook.com/philgoff.labour | twitter.com/phil_goff | labour.org.nz

 







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pacific islands media association
pima.nius@gmail.com
aotearoa, new zealand
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The pima.nius googlegroup is a facility for discussion and distributing information. Content sent by this googlegroup are forwarded from various networks and media publications.
 
DISCLAIMER: These emails are unedited and discussions made through this googlegroup are unmoderated. Announcements made through this googlegroup do not constitute endorsement for the organisations, individuals or opinions featured. Please check the integrity of organisations and individuals before exchanging personal information with them.
 
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