32626 (2025). Arena Williams to the Minister of Commerce and Consumer Affairs

32626 (2025). Arena Williams to the Minister of Commerce and Consumer Affairs: If the Credit Contracts and Consumer Finance Amendment Bill specifically applies to the class action against ASB and ANZ, why did the Minister not mention this in his First Reading of the Bill?

Hon Scott Simpson: The Credit Contracts and Consumer Finance Amendment Bill has a number of great changes to get better outcomes for Kiwi's. It includes streamlining the regulatory regime and reducing penalties for harmless mistakes. This is on top of all the other great work this Government has done to reduce the burden on lenders, in turn ensuring better access to finance and cheaper lending for consumers. That is a whole lot to distil into a ten-minute speech.