Business Desk
Science reforms a step in the right direction, say submitters
09/12/2022
The NZ Bankers’ Association submitted that the crown research institute model made it extremely difficult for businesses to access and use this data.
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Business Desk
Home buyers paddle, as mortgage rates hit high water mark
27/11/2022
NZ Bankers’ Association chief executive Roger Beaumont said it was important for customers to speak to their bank as early as possible if they were “doing it tough”.
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Business Desk
Money Answers: which credit problems will kill my mortgage chances?
25/11/2022
“If you’re considering borrowing from your bank, it’s always worth having a chat with them to find out what they’ll be looking for and what you can do to help get your application over the line.
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NZ Herald
Financial abuse must become a crime, anti-violence campaigners say
23/11/2022
He said these cases were often very sensitive and complicated by the bank’s customer obligations to both domestic partners who may have joint accounts, home loans or credit cards. “Joint products usually need the consent of both customers to make any changes. Issues can arise when one party refuses consent.”
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Newsroom
‘I had serious concussion, bad credit and $15,000 debt’ – abuse survivor
23/11/2022
“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.”
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Stuff
Banking not made simple for 97-year-old man in rural Taranaki town
19/11/2022
“The hubs trial is designed for small communities that no longer support bank branches due to lack of customer demand, or never had them. Stratford still has a bank branch. Locals who prefer face to face banking may wish to consider switching to that bank. Switching is easy and quick, with the new bank taking...
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NZ Herald
Accreditation warning over move to bring in open banking
16/11/2022
“Our research shows that around two-thirds of New Zealanders think sharing your banking information with third parties to access other financial services is either a bad idea or they don’t understand it,” CEO Roger Beaumont said.
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Interest.co.nz
Reserve Bank outlines design plans for tool it could enforce on banks to limit the debt-to-income ratio of home buyers
09/11/2022
Introduction of the tool has also been opposed by banks, with bank lobby group the New Zealand Bankers’ Association maintaining “there’s a real risk of adverse customer impact” if the RBNZ introduces a DTI tool.
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NZ City
A suggestion there’s a need for a public awareness campaign on open banking
09/11/2022
Bankers’ Association Chief Executive Roger Beaumont says their research indicates about two-thirds of Kiwis are opposed to the concept of open banking, or don’t understand it. He says that means there’s an obligation on the Government, who are setting this up, to educate people on what it means.
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NZ Herald
Government to make it easier to switch banks, forcing banks to share consumer data on request
09/11/2022
Beaumont warned that the weight of other banking regulation being imposed by government and the Reserve Bank meant that banks would “need time to enable quality products that will excite New Zealand consumers”.
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