FinCap - Latest News [Page 1]

FinCap Welcomes Commerce Commission Open Letter To Telecommunications On Consumer Overpsending

Thursday, 17 September 2020, 10:25 am | FinCap

FinCap welcomes the open letter sent by the Commerce Commission to New Zealand’s three mobile phone operators mobile telecommunications companies, telling them that they need to guard against overspending by mobile phone customers. The open letter ... More >>

Interest Rate Cap Introduction Will Make A Big Difference To Families In New Zealand

Thursday, 4 June 2020, 3:34 pm | FinCap

This week, on 1 June 2020, an interest rate cap on high-cost loans (over 50% interest per annum) was finally introduced in New Zealand. The introduction of an interest rate cap will help borrowers, like Sarah Newham, who presented to Select Committee ... More >>

Local Financial Capability & Budget Services Get New Funds To Help Kiwis Impacted By COVID-19

Thursday, 21 May 2020, 6:54 pm | FinCap

New money in the COVID-19 response fund will help free local financial capability and budgeting services to support Kiwis impacted by COVID-19. Getting free advice and support early will help Kiwis avoid long term financial hardship. Today, the ... More >>

FinCap Welcomes Bringing Forward Restrictions On Lending Because Of COVID-19

Thursday, 30 April 2020, 1:44 pm | FinCap

FinCap welcome’s the Government's announcement that they are bringing forward the introduction of the 100% repayment limit and ban on compounding interest for high cost loans, and the $30 cap on default fees for all loans, through the COVID-19 ... More >>

Open Letter To Essential Service Providers To Support People In Financial Hardship Due To COVID-19

Sunday, 5 April 2020, 3:46 pm | FinCap

COVID-19 is causing immense disruption to our society and our economy. Hundreds of thousands of New Zealanders and their families now face having to survive on a reduced income. These people are worried about whether they can pay their rent or ... More >>

FinCap welcomes recommendation on Kiwisaver

Wednesday, 29 January 2020, 8:16 am | FinCap

FinCap, which supports the nation’s 200 local financial capability and budgeting services, has warmly welcomed the Retirement Policy Review’s recommendation #10 to "establish a centralised financial capability hub for Kiwisaver hardship ... More >>

Govt’s own data shows low income driving more benefits

Thursday, 9 January 2020, 10:26 am | FinCap

(Headline abbreviated, original headline: Govt’s own data shows low income, not poor spending choices, is driving need for increased benefits) More >>

FinCap welcomes increased protections for consumers

Tuesday, 12 November 2019, 3:33 pm | FinCap

Parliament’s Finance and Expenditure Committee has made key amendments to the Credit Contracts Legislation Amendment Bill, giving borrowers more protection from harmful high cost consumer credit contracts. The changes indicate that the Select Committee ... More >>

FinCap welcomes move to reduce energy hardship

Thursday, 3 October 2019, 12:11 pm | FinCap

FinCap welcomes the Government’s response to the Final Report of the Electricity Price Review process as a "good first step". FinCap supports 200 local financial capability and budgeting services across New Zealand. Collectively these services ... More >>

Interest rate cap welcomed by FinCap

Tuesday, 3 September 2019, 12:19 pm | FinCap

FinCap welcomes the Government’s and Minister of Commerce Kris Faafoi's move to introduce an interest rate cap into the Consumer Credit Legislation Amendment Bill (to amend the Credit Contracts and Consumer Finance Act) and to encourage more borrowers ... More >>

Financial services and community join forces

Wednesday, 21 August 2019, 9:16 am | FinCap

The Financial Services Federation (FSF) - the voice of responsible lenders and leasing companies - and FinCap - working with consumers facing financial hardship - are signing a Memorandum of Understanding (MoU) this Thursday 22 August in Auckland. It will ... More >>

New Kiwi research questions Government’s loan shark decision

Friday, 14 June 2019, 8:35 am | FinCap

The Government's decision to not cap the interest rate loan sharks can charge is under further scrutiny following the release of a new report. More >>

Iwi leaders join coalition for loan shark reform

Wednesday, 8 May 2019, 7:34 pm | FinCap

Iwi leaders join coalition for loan shark reform as BERL report shows Government’s answer is too weak -- More >>

FinCap welcomes the recommendations in Welfare report

Friday, 3 May 2019, 2:05 pm | FinCap

FinCap welcomes the recommendations of the Welfare Expert Advisory Group in their report "Whakamana Tangata - restoring to social security in New Zealand". More >>

Coalition forms to fix Govt’s broken loanshark Bill

Tuesday, 30 April 2019, 9:26 am | FinCap

Hi all - we were planning to release on the Government’s new loan shark legislation - the Credit Contracts Legislation Amendment Bill which is having its first reading today and we thought we’d invite other organisations to join us. More >>

Proposed Law Gives Loan Sharks Free Pass From Government

Monday, 8 April 2019, 8:41 am | FinCap

The Government’s proposed law to "crack down" on predatory lending - the Credit Contracts and Consumer Finance Amendment Bill - will give loan sharks a free pass in its current form say budgeting services. More >>

FinCap welcomes Electricity Price Review Options paper

Wednesday, 20 February 2019, 9:41 am | FinCap

FinCap welcomes the priority given in the Electricity Price Review Options Paper to price affordability, a loud consumer voice and a focus on hardship, and urges that support is given to those issues in the final report. More >>

Big changes needed to protect consumers

Sunday, 10 February 2019, 6:18 pm | FinCap

Big changes needed to protect consumers from high cost loans and debt collection practices More >>

FinCap welcome the findings of the Bank Conduct Review

Monday, 5 November 2018, 2:57 pm | FinCap

FinCap, working with New Zealand’s 200 free budgeting services, warmly supports the recommendation that banks need to urgently improve oversight, controls and processes; and the need for banks to champion business models that focus on consumer interests. ... More >>

Wild West to Be Tamed

Wednesday, 10 October 2018, 10:21 am | FinCap

FinCap welcomes the Government’s announcement of stricter controls over loan companies and debt collectors. The charity works with New Zealand’s 200 free budget services and the 60,000 people who use their services each year, and has helped over half ... More >>