Economic Development, Science and Innovation Committee (more…)
An NZBA spokesman said under that guidance retail was not required to use My Vaccine Passes, but if a business opted to require these, then it was recommended the business sight and/or verify customers’ My Vaccine Passes. He said that effectively meant it was up to each bank to decide whether or not it required vaccine passes for customers entering branches.
Financial Markets Authority (more…)
Reserve Bank of New Zealand (more…)
External Reporting Board (more…)
Ministry for the Environment (more…)
The bravest of brave faces has come from the Bankers Association, which declared that “banks are responsible lenders, and support the aims of the law”. Earlier, the association complained the CCCFA was being rushed through without sufficient clarity on what had to be done and without enough time to do it.
If you see signs of economic harm among family and friends, it’s important to call it out. That’s a key message from the New Zealand Bankers’ Association, which is supporting the first Economic Harm Awareness Day in Aotearoa New Zealand organised by Good Shepherd NZ on Friday 26 November.
Economic harm can affect anyone, regardless of their personal circumstances or background and, like other like other forms of violence, it predominantly impacts women.
“Economic harm is a crime, and it’s often a hidden crime. We’d encourage anyone who sees signs of economic harm among family and friends to call it out. Talking about it is the first step to eliminating its impact,” says New Zealand Bankers’ Association chief executive Roger Beaumont.
“Economic harm can include the illegal or wrongful use of people’s money, their property and other assets. It’s particularly hurtful because it often involves people close to them taking advantage of their trust and vulnerability.
Examples of economic harm include:
- Unauthorised taking of money or possessions
- Coercing domestic partners or family members to take on or share debt
- Using a home and assets without permission or contributing to costs
- Scams that rely on establishing a relationship with people with the intention of exploiting their savings, assets or personal information.
“Banks play a part in helping to identify instances of economic harm. They train staff to recognise signs of potential economic harm while being sensitive to customers’ situations and wishes. Banks must strike a balance between being vigilant and following instructions from customers about what they want to do with their money.”
Good Shepherd NZ is a charitable non-government organisation. Good Shepherd provides links to economic harm support services here: https://goodshepherd.org.nz/economic-harm/.
ENDS
Roger Beaumont, NZBA’s chief executive said Section 99(1A) was introduced at speed in 2015 and the way in which it could be interpreted “could lead to excessive consequences from failing to comply with some customer information disclosure requirements. We did not agree with that interpretation and, therefore, sought to address the risk through further law reform on behalf of our members.”
Roger Beaumont, CEO of bank lobby group the New Zealand Bankers’ Association, said; “banks are responsible lenders, and we support the aims of the law changes to help people avoid taking on unaffordable debt. We also think it’s important that people are prepared for what the law change will mean for them when they apply for a loan.”