Help to borrowers in financial difficulty outlined

The joint message outlines ways financial service providers, including consumer lenders, can support people getting into financial difficulty as the impact is not only monetary, but can affect wellbeing, households and the wider community.

Addressing customers experiencing financial difficulty fosters good customer outcomes and confidence in the financial sector as a whole, says the FMA and Commerce Commission. 

They outline ways lenders can be proactive  by complying with regulatory obligations in relation to financial difficulties, being ready to assign sufficient support resources  and  providing customers with fair treatment.

1. Expectations