Credit Contracts bill targeting loan sharks passes third reading

first_imgRadio NZ 12 December 2019Family First Comment: Excellent. We’ve always argued there should be an interest rate cap.The Credit Contracts Legislation Amendment Bill, which aims to stop people falling prey to loan sharks, has passed its third reading in Parliament.Under the changes a credit cap will be introduced, meaning borrowers will not pay more than 100 percent of their loan, including interest and fees.The bill also introduces a rate cap, so that no one will have to pay more than 0-point-8 percent in interest and fees per day for a high-cost loan.Commerce and Consumer Affairs Minister Kris Faafoi says the Government will also be putting in place clear new requirements for all lenders to ensure borrowers can afford to repay their loan without falling into hardship.The new legislation will take full effect in April 2021.https://www.rnz.co.nz/news/political/405396/credit-contracts-bill-targeting-loan-sharks-passes-third-readingKeep up with family issues in NZ. Receive our weekly emails direct to your Inbox.last_img read more

Kenosha, Wisconsin Police Investigate Officer Shooting of Black Man in the Back

first_imgA black man was shot seven times in the back by Kenosha, Wisconsin police in front of his three children who were inside his SUV.”I’m pretty sure Jacob’s kids were more traumatized than anybody during the whole situation.” Raysean White saw Jacob Blake and his children on Sunday, when he recorded Blake being shot multiple times by police while Blake’s three children were in a car. https://t.co/WtXaOAcq2P— CNN (@CNN) August 25, 2020 Jacob Blake had an arrest warrant out for rape and domestic abuse pic.twitter.com/t8g2OtZby1— Jack Posobiec (@JackPosobiec) August 25, 2020 Police shot 29 year-old Jacob Blake as he walked away from them and attempted to reach into his SUV.Blake was reportedly trying to break up a domestic dispute between two women when police were called.Shortly after the shooting, large crowds arrived near the scene in protest.An overnight curfew was disregarded as protests flared up sparking looting and arson.More than 150 national guardsmen were called in to help police control the unrest.The officers involved have been pleased on administrative leave and Blake remains hospitalized in serious but stable condition.New footage shows Jacob Blake brawling with cops before being shot https://t.co/gsSuFtn2Je— Jack Posobiec (@JackPosobiec) August 25, 2020last_img read more