21 Jun 2011

Loans available via text

From Nine To Noon, 9:31 am on 21 June 2011

A global finance company, offering high interest micro-loans via text message, has begun operating in New Zealand. These loans have been met with despair by family budgeting services. Kathryn talked to Peter Sykes, CEO of Mangere East Family Service Centre, and Labour consumer affairs spokesperson, Carol Beaumont. We also hear from a spokesman for Ferratum, the finance company concerned.