Sasha Lockley: Money Sweetspot co-founder and CEO on the Government's changes to the Responsible Lending Code
Heather du Plessis-Allan Drive · Newstalk ZB
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Show Notes
There's growing concerns from expert as the Government rolls back some restrictions needed to take out a loan.
From today, The Government has removed affordability regulations from the Credit Contracts and Consumer Finance Act and updated the Responsible Lending Code.
Money Sweetspot co-founder and CEO Sasha Lockley says relaxing these requirements means more people are at risk of getting into debt that they can't afford to pay back.
"People believe what banks and finance companies tell them around affordability...and if you go to some of the bad actors in this financial system, they may say - yes, absolutely you can afford it, when actually, people can't."
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