Government warned for 3 years lending changes would create issues

[Wainuiguy]

Reality - the laws designed to stop predatory lending have had unintended consequences because once again this government doesn't listen to the experts.  Now they are scambling to try and resolve it and attempting to deflect.  Easy to blame the banks but failure to adhere to the new laws have serious consequences for lenders.  Of course they will be cautious.

Reality would also suggest that those "unintended consequences" you speak of were already happening, well before the law was passed.  

These "experts" you talk of - according to the article it is the banks that were warning them, no doubt said with the slightest twist of self interest. 

But hey, they're investigating the matter, we shall see where the cards fall, but it is perhaps a bit too early to say whether they got it right or wrong - some outraged applicant whose loan was denied doesn't suggest anything is at all wrong.  

If we're really talking about 'reality' here, the reality is, a law intended to stop people getting into excessive debt at the whims of the lenders whose lending policies change from year to year, finds borrowers that otherwise would be able to lend money no longer can, then on the face of it I would say it is working as intended.  Hard to see this as a "Government ain't listening" issue...

Hmmmm similar to the investigation into petrol prices?  Or climbing food prices?

I wonder did they quietly put that petrol investigation aside when ,shock horror, they realised the largest part of the cost went into the governments hands?
Like that one this one will be quietly placed in a bottom draw when they realised oops our bad....