Government opens public consultation on regulating money lenders

Comments can be sent on or before 22 August.

The government began a public consultation on a series of proposed measures enhancing the regulation of licensed money lenders on Monday.

The public can submit their comments by post to 15/F, Queensway Government Offices, 66 Queensway, Hong Kong, or by email on or before 22 August.

These measures include strengthening the regulation and borrowers’ assessment for unsecured personal loans, enhancing protection for loan consultants, and optimising complaint handling and the regulatory system for money lenders.

“We aim to induce a more responsible lending behavior to protect public interest,” said Christopher Hui, Secretary for Financial Services & the Treasury.