CCCFA changes finally revealed
Preliminary changes to the Credit Contracts and Consumer Finance Act (CCCFA) have been unveiled and they are expected to come into force by July 7.
A detailed report on further changes has been completed and is on the desk of the Minister of Commerce and Consumer Affairs, David Clark and additional information is due out later today.
The CCCFA has been widely criticised for smothering the finance sector in a mountain of paperwork and depriving credit to perfectly dependable borrowers.
A review was ordered by Clark less than two months after the rules came into force.
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