The government requires a halt in irresponsible consumer loans

DNB services stress testDNB logo. Photo Norway Today Media.

The government requires banks to use the new debt registers to prevent irresponsible consumer loans.

Consumer Minister Kjell Ingolf Ropstad (KrF) says to E24 that he believes the new registers will cause the banks to become more responsible, but adds that the government will tighten the grip if it does not.

“I expect the banks to use the new tool, so that it will end up not lending money to customers who have too much consumer debt from before. If they do not, we must find a way to stop,” he says.

Right Aleksander Stokkebø, who is a member of the Finance Committee at Parliament, proposes that an alternative way could be to strengthen the Financial Supervisory Authority’s sanctions for banks.

“If the banks continue to lend in violation of the lending rules, this suggests that today’s sanctions are not good enough,” says Stokkebø.

© NTB Scanpix / #Norway Today

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