Following on from the success of the Ministry of Consumer Affairs-led Financial Summit in 2007, Minister of Consumer Affairs Heather Roy will this week host Financial Summit 2009 at the Otara Music and Arts Centre in Auckland.

"The events of the past 12 months are a salient reminder that the availability of credit - both for consumers and businesses - is fundamental to the sound operation of the economy," Mrs Roy said.

"Financial Summit 2009 will bring together representatives of the financial sector, and of community and voluntary agencies that work with people with problem debt and associated difficulties.

"This week's release of the 'Review of the Operation of the Credit Contracts and Consumers Finance Act 2003' discussion document is timely for discussion at the Summit.  The document reviews consumer credit law and outlines proposals to amend the Credit Contracts and Consumer Finance Act to improve its operation.  It also looks at other legislative initiatives that have been, or are being, introduced that are likely to affect the operation of the consumer credit market.

"Topics for discussion include: hardship applications, credit re-possession, disclosure, and fringe lending practices.

"Media are welcome to attend my opening speech as well as a wrap-up session at the end of proceedings.  Media are also welcome, during these times, to seek and arrange interviews with those attending the Summit," Mrs Roy said.

Financial Summit 2009; Otara Music and Arts Centre, cnr Newbury St & Bairds Rd, Otara Town Centre, Otara, Auckland; Friday September 25 2009.

Media are invited to attend from 9.30am-9:50am, and then from 2:45pm.  For further information, please contact Chas Te Runa: (04) 817 6640.