Consumers could be set to receive greater protection and decreased costs after Whangarei MP Dr Shane Reti’s private members bill passed its first reading in Parliament on Wednesday.
Dr Reti’s Consumer Guarantees (Removal of Unrelated Party Lender Responsibility) Amendment Bill clarifies ambiguous legislation around when lenders should and should not be held responsible under the Consumer Guarantees Act.
“I’m delighted that my bill has passed its first reading. One of my goals this Parliamentary term has been to reduce red tape and increase protections for consumers. This bill goes some way toward that,” says Dr Reti.
The bill will now be passed to the Commerce Select Committee which is likely to report back to Parliament before the end of this year.