Consumer Affairs Archived
Release

Consumer Affairs Minister Craig Foss says new Fair Trading Act infringement fees coming into force today will further boost consumer confidence and drive competition.

The Commerce Commission is now able to issue infringement fees of up to $1500 for clear-cut offences, including breaching consumer information standards and disclosure requirements. 

For example, a motor trader who fails to attach a completed consumer information notice to a used vehicle could be fined $1000.

Craig Foss Consumer Affairs
Release

Consumer Affairs Minister Craig Foss is inviting feedback on the Credit Contracts and Consumer Finance Amendment Act’s Responsible Lending Code.

“Rewriting our consumer credit laws was a giant leap forward for lending practices in New Zealand,” Mr Foss says.

“Lenders must now operate with skill, care and diligence in all dealings with a borrower throughout the life of a credit contract.

Craig Foss Consumer Affairs
Release

Commerce and Consumer Affairs Minister Craig Foss today welcomed a range of new measures to strengthen the financial service provider registration and dispute resolution regime.

“We have made improvements to the financial service provider registration rules and introduced new powers to allow the Financial Markets Authority (FMA) to block the registration of financial service providers if needed,” Mr Foss says.

“The registration changes will help prevent misuse of the register by dodgy individuals trying to exploit New Zealand’s good name.

Craig Foss Consumer Affairs Commerce
Release

Consumer Affairs Minister Craig Foss says changes to consumer law coming into effect today will strengthen consumer rights across all types of transactions.

“Key changes under the Consumer Law Reform Bill swing into action today. Consumers will have the same rights when purchasing goods and services regardless of whether they buy online, in a store, by auction, over the phone, at home or anywhere else,” Mr Foss says.

Craig Foss Consumer Affairs
Release

Safekids Aotearoa has unveiled a new online tool to help health professionals treat children who have swallowed button batteries.

Health Minister Tony Ryall says the tool, which has been developed in partnership with the Ministry of Health, provides doctors and nurses with immediate diagnosis and treatment information.

“If a child swallows a battery it’s important they receive prompt care. Button batteries can get stuck in the throat, nose or ear canal which can have very serious consequences,” says Mr Ryall.

Craig Foss Tony Ryall Health Consumer Affairs
Release

Consumer Affairs Minister Craig Foss will travel to Australia today to attend a trans-Tasman consumer affairs forum.

The two-day Legislative and Governance Forum on Consumer Affairs (CAF) begins in Cairns on Thursday.

Mr Foss will join Australian Commonwealth, state and territory ministers to discuss a range of consumer affairs and fair trading matters.

“CAF is an excellent opportunity to advance the Single Economic Market agenda and establish a joint approach to international consumer issues,” Mr Foss says.

Craig Foss Consumer Affairs
Release

Raising awareness of online scams is the key focus for this year’s Fraud Awareness Week, Consumer Affairs Minister Craig Foss says.

“Online scams are increasingly sophisticated and can fool even the most tech-savvy among us,” Mr Foss says. 

“At any one time there are thousands of fraudsters online looking for victims using dating scams, fake job adverts, cloned Facebook profiles and bogus online trading sites.

Craig Foss Consumer Affairs
Release

A Bill making the biggest changes to consumer credit legislation in more than a decade has passed its third reading in Parliament today, Consumer Affairs Minister Craig Foss says.

The Credit Contracts and Financial Services Law Reform Bill protects the interests of borrowers and requires lenders to act responsibly.

Craig Foss Consumer Affairs
Release

A Bill that overhauls consumer credit laws to ensure that the interests of consumers are protected has passed its second reading in Parliament today says Consumer Affairs Minister Craig Foss.

“The Credit Contracts and Financial Services Law Reform Bill will require lenders to act responsibly and ensure consumers are given all the information they need to make sound borrowing decisions,” says Mr Foss.

Craig Foss Consumer Affairs
Release

Commerce Minister Craig Foss has welcomed the Commerce Select Committee report on a Bill that will crack-down on unscrupulous lenders who leave borrowers and their families in a spiral of uncontrolled debt.

“Proposed changes under the Credit Contracts and Financial Services Reform Bill will help to increase confidence in the role consumer credit plays in our financial markets, which is a major component of the Government’s Business Growth Agenda,” says Mr Foss.

Craig Foss Consumer Affairs
Release

Consumer Affairs Minister Craig Foss and Pacific Island Affairs Minister, Peseta Sam Lotu-Iiga welcomed the launch of the 2014 Talanoa campaign. Talanoa encourages Pacific communities to ask for help and seek redress when they have problems with loans.

“One of the main aims of the campaign is to help Pacific communities to be more proactive when lodging complaints if things go wrong when borrowing money,” says Mr Foss.

Peseta Sam Lotu-Iiga Craig Foss Pacific Island Affairs Consumer Affairs
Release

A Bill that will strengthen consumer rights, simplify business compliance and ensure consumer protections are clear and accessible has passed its third reading in Parliament today says Consumer Affairs Minister Craig Foss.

“The Consumer Law Reform Bill represents the most significant change to New Zealand’s consumer law in more than twenty years.

Craig Foss Consumer Affairs
Release

Consumer Affairs Minister Craig Foss is hosting the 2013 Consumer Credit and Financial Literacy forum in Auckland today.

Representatives from budgeting services, banks, dispute resolution services and community organisations have gathered at the Otara Community Hall to discuss consumer credit issues.

Craig Foss Consumer Affairs
Release

Consumer Affairs Minister Craig Foss has released a discussion paper on proposed details of the new auctioneer registration regime as part of the Consumer Law Reform Bill.

“The Bill will introduce the most significant reforms to New Zealand’s consumer laws in more than 20 years. As part of these reforms, the Bill provides for an easier and more cost-effective auctioneer registration regime to strengthen consumer confidence,” says Mr Foss.

Craig Foss Consumer Affairs
Release

Consumer Affairs Minister Craig Foss will host the 2013 Consumer Credit and Financial Literacy Forum in Auckland next month.

“The event will bring together lenders, budgeting services, financial literacy providers, dispute resolution organisations, industry representatives, government and community organisations,” says Mr Foss.

The theme for this year’s forum is Responsible Lenders, Informed Borrowers.

Craig Foss Consumer Affairs
Release

A Bill that will strengthen protections for borrowers and make wide-ranging changes to consumer credit and repossession laws has passed its first reading in Parliament today.

Consumer Affairs Minister Craig Foss says the Credit Contracts and Financial Services Law Reform Bill is the largest overhaul of consumer credit law in a decade.
“The Bill will crack down on unscrupulous lenders who leave borrowers and their families trapped in a spiral of uncontrolled debt,” says Mr Foss.

Craig Foss Consumer Affairs
Release

Raising awareness among seniors who are most vulnerable to scams is the key focus for this year’s Fraud Awareness Week, says Consumer Affairs Minister Craig Foss.

About 10 per cent of New Zealanders approached by scammers hand over money, losing on average $5000 each.  Reported losses to scams have increased in recent years, from $1.7m reported in 2010 to almost $4m last year.

Craig Foss Consumer Affairs
Release

Consumer Affairs Minister Craig Foss today announced the introduction of a Bill making wide-ranging changes to consumer credit and repossession laws.

“The Consumer Credit and Financial Services Law Reform Bill is the biggest overhaul of consumer credit law in a decade,” says Mr Foss.

“The changes introduced today represent a crackdown on unscrupulous lenders who prey on desperate people and leave them and their families trapped in a spiral of debt.

Craig Foss Consumer Affairs
Release

Consumer Affairs Minister Simon Bridges has announced a ban on the sale of sets of small high powered magnets that have caused serious injuries in New Zealand and at least one reported death in Australia.

Simon Bridges Consumer Affairs
Speech

Mr Speaker, I move that the Consumer Law Reform Bill be now read a second time.

I would like to thank the Commerce Select Committee for its consideration of this complex and significant reform.

The Committee has considered changes to ten Acts and reflected on more than 90 submissions covering a wide range of views. Their changes reflect a fair and robust process, and I am very pleased that the Committee was unanimous in their support for this significant update of consumer law in New Zealand. Ideally, law reform such as this should receive cross-party support.

Simon Bridges Consumer Affairs
Release

Consumer Affairs Minister Simon Bridges has announced a ban on multi-purpose ladders that do not meet Australia and New Zealand safety standards.

The ban comes after an investigation by Consumer Affairs which found that multi-purpose ladders sold on Trade Me collapsed well below their advertised weight limit.

“The metal in one of these ladders buckled and split, collapsing only seconds after a man climbed on it.  The ladder was supposed to hold up to 150kg and the man was only 90kgs,” Mr Bridges says.

Simon Bridges Consumer Affairs
Release

A campaign aimed at empowering vulnerable communities in New Zealand by helping them to know their rights when borrowing money kicks off from today, says Consumer Affairs Minister Simon Bridges.

The new campaign, which builds on the success of the Loan Stress campaign run earlier this year, partners Consumer Affairs with the Federation of Family Budgeting Services, to help guide consumers through the disputes resolution service and offer budgeting advice.

Simon Bridges Consumer Affairs