In June 2015, New Zealand’s credit laws underwent significant change.
Key changes included:
• lender responsibility principles supported by guidance in a Responsible Lending Code
• new rules about repossession of consumer goods
• amendments to some of the rules about disclosure.
A FSCL case manager will discuss the main changes to credit laws to help you gain a better understanding of the new laws and lender responsibilities, and what constitutes a reasonable or unreasonable credit fee.
We will also discuss the new lender responsibilities as they are likely to be applied in practice, using some case studies.