An anti loan shark campaign aimed at stopping the exploitation of struggling families was launched in Auckland today.

The Labour Party spearheaded the community alliance, which brings together groups including the Salvation Army, the New Zealand Federation of Family Budgeting Services, FINSEC, The Child Poverty Action Group and The New Zealand Association of Credit Unions.

"Kiwi families all around the country are having to make terrible choices between putting food on the table, or putting gas in the car, or taking the children to the doctor," Labour MP Carol Beaumont said.

"In an environment where rising costs are putting families on the brink of despair loan sharks are at the ready and open for business."

Ms Beaumont said there was overwhelming community support for a crackdown on loan sharks who were targeting vulnerable families by charging obscene amounts of interest.

"At a time when many are in desperate need, loan sharks add insult to injury. Labour and the local community have pledged to take action."