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A Bill that will strengthen consumer rights, simplify business compliance and ensure consumer protections are clear and accessible has passed its third reading in Parliament today says Consumer Affairs Minister Craig Foss.

“The Consumer Law Reform Bill represents the most significant change to New Zealand’s consumer law in more than twenty years.

Consumer Affairs Minister Craig Foss is hosting the 2013 Consumer Credit and Financial Literacy forum in Auckland today.

Representatives from budgeting services, banks, dispute resolution services and community organisations have gathered at the Otara Community Hall to discuss consumer credit issues.

Consumer Affairs Minister Craig Foss has released a discussion paper on proposed details of the new auctioneer registration regime as part of the Consumer Law Reform Bill.

“The Bill will introduce the most significant reforms to New Zealand’s consumer laws in more than 20 years. As part of these reforms, the Bill provides for an easier and more cost-effective auctioneer registration regime to strengthen consumer confidence,” says Mr Foss.

Consumer Affairs Minister Craig Foss will host the 2013 Consumer Credit and Financial Literacy Forum in Auckland next month.

“The event will bring together lenders, budgeting services, financial literacy providers, dispute resolution organisations, industry representatives, government and community organisations,” says Mr Foss.

The theme for this year’s forum is Responsible Lenders, Informed Borrowers.

A Bill that will strengthen protections for borrowers and make wide-ranging changes to consumer credit and repossession laws has passed its first reading in Parliament today.

Consumer Affairs Minister Craig Foss says the Credit Contracts and Financial Services Law Reform Bill is the largest overhaul of consumer credit law in a decade.
“The Bill will crack down on unscrupulous lenders who leave borrowers and their families trapped in a spiral of uncontrolled debt,” says Mr Foss.

Raising awareness among seniors who are most vulnerable to scams is the key focus for this year’s Fraud Awareness Week, says Consumer Affairs Minister Craig Foss.

About 10 per cent of New Zealanders approached by scammers hand over money, losing on average $5000 each.  Reported losses to scams have increased in recent years, from $1.7m reported in 2010 to almost $4m last year.

Consumer Affairs Minister Craig Foss today announced the introduction of a Bill making wide-ranging changes to consumer credit and repossession

Consumer Affairs Minister Craig Foss today announced the introduction of a Bill making wide-ranging changes to consumer credit and repossession laws.

“The Consumer Credit and Financial Services Law Reform Bill is the biggest overhaul of consumer credit law in a decade,” says Mr Foss.

“The changes introduced today represent a crackdown on unscrupulous lenders who prey on desperate people and leave them and their families trapped in a spiral of debt.

Consumer Affairs Minister Craig Foss today introduced a Supplementary Order Paper (SOP) as part of on-going work to reform New Zealand’s consumer law. 

Consumer Affairs Minister Simon Bridges has announced a ban on the sale of sets of small high powered magnets that have caused serious injuries in New Zealand and at least one reported death in Australia.