Every day in New Zealand predatory lending leaves people suffering under huge interest rates and penalties. That's money going into loan sharks' profits when it should be going into putting food on the table, paying the rent, or vital visits to the doctor.
It's wrong and the Government is taking steps to fix it with a new law. There's only one problem. Without an interest rate cap the law won't work.
Tell the Government, and the Minister in charge of this legislation Kris Faafoi, that to do the right thing they need to put an interest rate cap on the loan sharks that are hurting our families.
To the Minister of Commerce and Consumer Affairs,
We know you want to do the right thing by the many people and their families who are being preyed on by loan sharks. Please, take the one simple step that will achieve this: introduce an interest rate cap.
Please, let's stop loan sharks together.