Submissions from all corners of New Zealand's financial sector have been pouring in with vested interests all keen to give their two cents on legislation aiming to crack down on dodgy loan sharks.

New Zealand's biggest bank, for example, is worried that the legislation as it stands would "disproportionately impact our most vulnerable".

Almost 150 people, groups, banks and law firms have submitted on the Credit Contract Legislation Amendment Bill, which is currently in front of MPs at select committee.

The bill would, according to Consumer Affairs Minister Kris Faafoi, protect vulnerable consumers and stop families being trapped in debt

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