Banking restrictions are on the chopping block, in the hope to make the lending process smoother.

Laws introduced by the previous government which aimed to prevent loan sharks are set to be scrapped.

Commerce and Consumer Affairs Minister Andrew Bayley says it had unintended consequences.

CEO of Money Sweetspot Sasha Lockley told Mike Hosking that it made lending too restrictive for both lenders and borrowers.

She says the prescriptive requirements took the human understanding out of lending.

LISTEN ABOVE

Banking restrictions are on the chopping block, in the hope to make the lending process smoother. 
Laws introduced by the previous government which aimed to prevent loan sharks are set to be scrapped. 
Commerce and Consumer Affairs Minister Andrew Bayley says it had unintended consequences. 
CEO of Money Sweetspot Sasha Lockley told Mike Hosking that it made lending too restrictive for both lenders and borrowers. 
She says the prescriptive requirements took the human understanding out of lending. 
LISTEN ABOVE

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.