Banks say changes to lending rules will help with key pain points.

The Credit Contracts and Consumer Finance Act took effect last December to help prevent predatory lending.

The Government's conceded it had unintended consequences on all borrowers and is proposing amendments to fix it.

NZ Bankers Association's Roger Beaumont told Andrew Dickens they'll help, but the law could still be improved.

“I would describe them as a small step in the right direction. There’s a lot more heavy lifting that needs to go on in terms of getting into the detail of these regulations.”

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