CCCFA terms released; Bank bosses summoned to Beehive

They declare the investigation will analyse the reported outcomes of the CCCFA and whether they’re attributable to the Act’s intended protections.

 They will also look at intended and unintended consequences, and consider the impact of external factors like the global economic situation.

The problem of unintended consequences are one of the main complain from people who are upset at the CCCFA, which came into effect last December.

The critics say the law was supposed to target predatory lenders but in fact throttled almost everyone in red tape.