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Banks face scrutiny over costly loans as MPs call for lower interest rates

Summary by peopledaily.digital
The massive profits raked in by digital lending platforms, which charge an average of seven per cent interest upfront yet expecting full repayment within a fixed period, have placed lenders under scrutiny. Lawmakers argue that this structure results in exorbitant annualised interest rates, burdening consumers and stifling economic growth. National Assembly Finance Committee chair Kuria […]
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peopledaily.digitalpeopledaily.digital

Banks face scrutiny over costly loans as MPs call for lower interest rates

The massive profits raked in by digital lending platforms, which charge an average of seven per cent interest upfront yet expecting full repayment within a fixed period, have placed lenders under scrutiny. Lawmakers argue that this structure results in exorbitant annualised interest rates, burdening consumers and stifling economic growth. National Assembly Finance Committee chair Kuria […]

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farmersweekly.co.nzfarmersweekly.co.nz

Call for Reserve Bank to cut costly capital rules

Reading Time: 2 minutes Federated Farmers is calling for the Reserve Bank to drop overly conservative and growth-restricting banking capital rules that are costing farmers a fortune. “These rules are among the strictest in the world and are a total handbrake on economic growth,” says Federated Farmers banking spokesperson Richard McIntyre. “They’ve unnecessarily driven up the cost of rural lending to the point they’re bleeding farmers dry – for …

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farmersweekly.co.nz broke the news in on Friday, March 28, 2025.
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