Protect consumers after rate cap repeal

Three years ago, when Parliament passed the interest rate cap, I remained a strong advocate for the repealing the interest rate cap. But when the repeal happened last week I was not entirely in support because we have not addressed the problem that led us to that position.

One of the main reasons the capping garnered a lot of public support is because bank customers felt that lenders were extending predatory lending rates to them and there was no one to look out for their interest.