Open letter – Backing our safe lending laws will bring financial wellbeing to our communities

On Tuesday 8 March ActionStation, Christians Against Poverty (CAP), Citizens Advice Bureau (CAB), Debtfix, FinCap, Good Shepherd NZ, Muaūpoko Tribal Authority, New Zealand Council of Trade Unions – Te Kauae Kaimahi (NZCTU), Ngā Tāngata Microfinance and The Salvation Army sent a joint letter to all parliamentary parties’ consumer spokespeople calling for support for the Credit Contracts and Consumer Finance Act (CCCFA).

The joint letter urges parties across the spectrum to support the 2021 reform of the CCCFA as the changes will deliver crucial safeguards protecting whānau across Aotearoa from financial disaster.

The organisations say no whānau in Aotearoa should end up facing serious stress, losing their most valuable belongings or going without kai because a lender is collecting on a loan that was always going to be unaffordable.