FHA attacks some firms
PA Wellington Concern about the apparent unwillingness of some finance companies to reduce interest rates in line with the New Zealand Finance Houses Association agreement was expressed yesterday by the association’s chairman, Mr M. J. Wells. In a statement, Mr Weils said: “It is most distressing that certain finance companies have not as yet taken positive steps to announce lower rates. “Chief executives have a responsibility to ensure staff at all levels within their organisation are made aware of the lower interest
rate regime. We know in some instances that this is not occurring.
“The reason for the agreement, namely the avoidance of regulations, still stands. It is quite irresponsible for companies to stand out against this arrangement and thereby invite regulation,” Mr Wells said.
It was to be hoped that the Government would acknowledge the vast majority of companies had satisfied the request to lower rates, he said. “This should ensure the government takes action against these mavericks only, rather than against the industry as a whole.”
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19840229.2.124.24
Bibliographic details
Press, 29 February 1984, Page 32
Word Count
172FHA attacks some firms Press, 29 February 1984, Page 32
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.