Review of Consumer Credit laws

Submissions closed: 01 August 2018, 5pm


We sought public feedback on a review of New Zealand’s consumer credit regulation.

The Minister of Commerce and Consumer Affairs requested a review of these changes, to assess whether borrowers are better informed, whether predatory and irresponsible lending has reduced, and whether further steps are required to ensure responsible lending, particularly for vulnerable consumers.

The discussion paper set out MBIE’s findings from the review to date based on desk-based research and interviews with stakeholders. While there have been some positive results from the 2015 reforms, it is clear that serious issues remain.

We asked for feedback on the issues, and on ways to address them. Submissions received by 1 August 2018 are being analysed, to inform our recommendations to Government on any further changes to the CCCFA.

The next step is for us to formulate recommendations arising from the Review.

Policy decisions will be announced later in 2018.


Submissions closed on 1 August 2018 and MBIE received a total of 86 submissions. These represent the views of a wide range of consumers and consumer advocates, lenders and industry bodies. MBIE and the Minister of Commerce and Consumer Affairs carefully considered these submissions when making policy recommendations.

Submitters who wished to remain anonymous are referred to as ‘anonymous submitter’. Redactions have been made in accordance with the Official Information Act 1982 and the Privacy Act 1993 and when content may be defamatory or commercially sensitive. Four submitters requested for their submissions to remain confidential. These submissions have not been published.

View the submissions on the review of consumer credit laws.(external link)