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Consumer Affairs Minister Chris Tremain today released draft consumer credit legislation to better protect consumers from irresponsible lenders.

Over the next six weeks the Minister will visit community and industry groups around the country to discuss the draft Credit Contracts and Consumer Finance Amendment Bill.

“The Government is getting tough on loan sharks and lenders who don’t play fair. Money lenders should not be able to prey on desperate people, leaving them and their families trapped in a spiral of debt,” says Mr Tremain.

Consumer Affairs Minister Chris Tremain says a new cross-agency group will help to raise awareness of scams so that people can protect themselves from being misled.

“Today marks the beginning of Fraud Awareness Week, so this is a timely occasion to highlight the importance of vigilance in the fight against scams,” says Mr Tremain.

“One in 10 New Zealanders approached by scammers will hand over money, with the average victim losing almost $5000.

Consumer Affairs Minister Chris Tremain opened a brand new weights, measures and product safety testing facility in Auckland today.

The new building and laboratory will support testing of petrol pumps, supermarket scales, and other measuring devices to ensure they are accurate. It will also be used to test whether products meet safety standards, and to help monitor fuel quality.

“The work done in this building will affect every single New Zealander,” says Mr Tremain.

Consumer Affairs Minister Chris Tremain is pleased that the Consumer Law Reform Bill passed its first reading today.

“The Consumer Law Reform Bill is a vital update to New Zealand’s consumer laws and another step towards implementing the Government’s 120-point Economic Development Action Plan,” says Mr Tremain.

“The Fair Trading Act, Consumer Guarantees Act, and other consumer laws are relevant to everyone in daily life. These laws are sound, but have not been updated in over 20 years.

Mr Speaker, I move that the Consumer Law Reform Bill now be read a first time.

I nominate that the Consumer Law Reform Bill be referred to the Commerce Committee.

The National Government is committed to a brighter future for New Zealanders. This includes a strong commitment to strengthening and building our economy.

Consumer Affairs Minister Chris Tremain says a new freephone number will help empower and protect consumers from being preyed on by unscrupulous loan companies.

The freephone number 0800 LOAN STRESS was launched today. It will give consumers better access to services to help them clearly understand their rights and resolve disputes with finance companies.

“Too many consumers are being treated unfairly by their loan providers,” says Mr Tremain.