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Fiji Time: 8:35 AM on Thursday 20 June

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Push against loan sharks

By ILAITIA TURAGABECI
Thursday, March 14, 2013

Update: 10.04PM CONSUMERS are bearing the brunt of injustice in the money lending sector, says the Consumer Council of Fiji.

And it has called for an urgent review of the Moneylenders Act.

While money lending has boomed, the council says associated problems for consumers ranged from illegal interest rates to unfair terms and conditions.

The council also noted with concern the increase in licensed money lenders which now stands at 818 - 131 per cent more than the number registered five years ago.