- “With major changes in customer behaviour accelerated by the Covid-19 pandemic and regular changes in alert levels. We intend to run the next phase until the end of 2023, to give these dynamic changes time to pan out,” Beaumont said.
- “The best option presented to him would have been to target affordability regulations to riskier lending and lenders, as well as make changes to the penalties regime. Targeting affordability requirements to support those most at risk would provide them with appropriate protections as well as freeing up lending for those who can afford it.”
- “Targeting affordability requirements to support those most at risk would provide them with appropriate protections as well as freeing up lending for those who can afford it.”
- “The best option presented to him would have been to target affordability regulations to riskier lending and lenders, as well as make changes to the penalties regime.”
- Roger Beaumont, NZBA chief executive, said it would have been better to target affordability regulations to riskier lending and lenders, as well as make changes to the penalties regime.
- New Zealand Bankers’ Association chief executive Roger Beaumont said people could cancel a direct debit authority at any time through their banks and did not require the merchant’s permission to do so.
- New Zealand Bankers’ Association chief executive Roger Beaumont said rising interest rates, albeit from historic lows, had a real impact on a borrower’s ability to afford repayments on a home loan. Another big factor was the consumer lending rule changes the Government brought in last December.
- NZBA suggests this in its submission to the Ministry for the Environment on the Government’s Draft National Adaptation Plan (NAP). It also says the NAP could be more ambitious, and should include more detail to be more effective.
- “We believe that by working with government and organisations like FinCap, we can find a way to both protect vulnerable consumers from unscrupulous lenders and ensure a less restricted flow of credit to those who can afford it.”
