Roger Beaumont, chief executive of New Zealand’s Banking Association, noted the issue of the lenders’ net-zero targets was also being investigated by the parliamentary inquiry into banking competition.

Office of the Privacy Commissioner – Te Mana Mātāpono Matatapu (more…)

Under the law all banks in New Zealand are required to do more to verify a customer’s identity and, in some cases, account activity.

Ministry of Business, Innovation and Employment (more…)

If a bank can lend within its credit risk policy and regulatory obligations, it likely will. That is the business of banking.

Ministry of Business, Innovation and Employment (more…)

Reserve Bank of New Zealand – Te Pūtea Matua (more…)

“A mortgagee sale is usually a last resort and suggests other options are no longer available. Mortgagee sales remain extremely low, despite the economic climate.”

“Banks already compensate customers for fraud losses in cases of unauthorised access to their accounts. We are currently discussing with the government a new approach for compensation in cases of authorised payment scams, where customers are tricked into making payments to criminals.

Ministry of Foreign Affairs and Trade (more…)