Labour promises to extend interest free loans, regulate card fees

Labour promises to extend interest free loans, regulate card fees
Dan Brunskill
The Labour Party will spend $1.5 billion to extend its small business cashflow scheme for three years and add a year to the interest free period, if it wins next month's election. The scheme provides zero interest loans of between $10,000 and $100,000 to viable small businesses employing fewer than 50 people and that were eligible for the first wage subsidy, spokesperson Stuart Nash said in a statement. Businesses would have five years to pay off the loan, with the first two interest free, and then attracting a 3 percent rate...

More Finance

ANZ vows to fight CCCFA class action despite ASB settlement
Finance

ANZ vows to fight CCCFA class action despite ASB settlement

“ANZ NZ will continue to defend its case. Our position hasn’t changed.” 

ASB settles CCCFA class action for hefty $135.6m
Finance

ASB settles CCCFA class action for hefty $135.6m

 It ended a four-year class action centred on disclosure obligations.

Andy Macdonald 07 Oct 2025
ASB pays $135.6m to settle long-running CCCFA class action
Finance

ASB pays $135.6m to settle long-running CCCFA class action

High-street lender ASB has agreed to pay $135.6 million to settle a class action brought against it for alleged breaches of the Credit Contracts and Consumer Finance Act (CCCFA).The settlement – without admission of liability or wrongdoing – concluded four years of legal proceedi...

Staff reporters 07 Oct 2025