Sasha Lockley: Money Sweetspot CEO says the laws governing the lending process were too restrictive
Early Edition with Ryan Bridge · Newstalk ZB
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Show Notes
Banking restrictions are on the chopping block, in the hope to make the lending process smoother.
Laws introduced by the previous government which aimed to prevent loan sharks are set to be scrapped.
Commerce and Consumer Affairs Minister Andrew Bayley says it had unintended consequences.
CEO of Money Sweetspot Sasha Lockley told Mike Hosking that it made lending too restrictive for both lenders and borrowers.
She says the prescriptive requirements took the human understanding out of lending.
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