January 17, 2021
Lending is an essential part of a functioning economy, but some loans do more harm than good.
The New Zealand market for credit has changed over the past decade. While the banking sector has grown, the non-bank sector has become increasingly populated with third-tier lenders, offering short term loans with very high interest to vulnerable borrowers in New Zealand.
Economists BERL produced a report on the harms of high-cost lending, the first such report in New Zealand.
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