South Auckland Loan Sharks Targeted

Loan Sharks are being targeted by Labour MP Carol Beaumont in a campaign to stop them praying on poor Auckland communities.

Ms Beaumont will launch the campaign in Mangere this morning with the help of Manukau mayor Len Brown and MP Su'a William Sio.

She says the campaign will focus on ways to make it harder for loan sharks to operate and is the first in a number of steps to stop people being sucked in to deals they can't afford

"It will set caps on interest rates, require lenders to make sure people do have the wherewithal to be able to afford the loan and try to pick up some of the gaps that are currently there."

Ms Beaumont says that poorer communities are being unfairly targeted and it has to stop.

"Anybody working in the community knows that there is a problem, particularly in low income Pacific communities throughout New Zealand and particularly in Auckland.

"My feeling is that it's time to do something."