Policy

Quick turnaround for consumer lending review

Paul McBeth
Mon, 31 Jan 2022

Quick turnaround for consumer lending review

David Clark ordered a wider scope of inquiry into consumer lending than he initially signalled. (Image: BusinessDesk)

Paul McBeth
Mon, 31 Jan 2022

Commerce and consumer affairs minister David Clark is cracking the whip for advice on changes to consumer lending that’s seen people’s spending habits put through the wringer when seeking a loan.Financial regulators have been told to look at the intended and unintended impacts beyond those expected from new consumer lending law, with initial advice flagged for early-to-mid February and further advice in April. That’s a wider remit than the minister’s initial signal to examine whether the banks are interpreting the law co...

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