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	Podcast:		The Mike Hosking Breakfast
	Episode:		David Clark: Commerce and Consumer Affairs Minister says changes to lending rules were things that weren't anticipated to play out how they
	Category:		News & Politics
	Duration:		00:03:00
	Publish Date:		2022-03-10 20:36:04
	Description:		Lending laws should protect vulnerable people - not unnecessarily hinder them. Credit Contracts and Consumer Finance Act reforms were introduced at the end of last year to prevent predatory lending. But they've had unintended consequences. The Government's revealed this morning, what it intends to do about them. The proposed changes include removing savings and investments as examples of outgoings and clarifying that the requirement to obtain information relates to what the borrower provides - not bank transaction records. Commerce and Consumer Affairs Minister David Clark told Mike Hosking some of the changes were things that weren't anticipated to play out how they did. “We see the sensible, practical solution here is just to clarify some of these things to make sure they’re in line with the intention of the law.” LISTEN ABOVE See omnystudio.com/listener for privacy information.
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