Newstalk ZB
NZ Bankers’ Assn officially put in submission to Ministry calling for a more fulsome review of CCCFA
02/05/2022
‘Not good enough’ is the summation of the Bankers’ Association when it comes to the Government’s tweaks on the CCCFA. Chief executive Roger Beaumont joined Mike Hosking.
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Stuff
Banks: Proposed home loan changes still won’t help
01/05/2022
“The Government’s tweaks to the CCCFA lending rules announced in March are just a band aid. We don’t think the tweaks will make a big difference for most borrowers. That’s because most of the existing requirements remain in place, meaning customers will still have to provide detailed information about their spending, resulting in a more...
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NZ Herald
Inflation, soaring interest rates could mean $200 in extra costs a week with $600k mortgage
21/04/2022
The New Zealand Bankers Association said 44 per cent of people with home loans were ahead and paying more than the minimum in repayments. About 1.2 million Kiwis currently had a mortgage.
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NZ Herald
Mortgage lending drops by a third, customers afraid of loan rejection as banks enforce CCCFA rules
18/04/2022
“The new rules have a one-size-fits-all approach for all lenders and all loan types and values, which has seriously impacted people applying for home loans. The new rules require banks to collect and verify much more information from customers, and the prescriptive approach means banks don’t have the same discretion or flexibility they used to.”
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NZ Herald
Trust in banks is being eroded, Consumer NZ says
13/04/2022
New Zealand Bankers’ Association chief executive Roger Beaumont said factors outside banks’ control such as the rising cost of living and the ongoing economic impact of Covid-19 had negatively affected consumer sentiment generally, and that in turn impacted how people feel about banks.
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Stuff
Mortgagee sales hit 15-year low, but there’s a warning
12/04/2022
“Banks work closely with customers through a range of options before considering a mortgagee sale. Some people may choose to sell the property themselves before it gets to a mortgagee sale.”
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Stuff
MBIE: Banks may be applying lending rules more strictly than intended
07/04/2022
New Zealand Bankers’ Association chief executive Roger Beaumont said it was looking at the proposed tweaks to the new lending rules and expected to make a submission on the current consultation.
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NBR
New Zealand Bankers’ Association announces new chair and deputy chair
01/04/2022
ASB chief executive Vittoria Shortt has been elected chair of the New Zealand Bankers’ Association, and BNZ chief executive Dan Huggins was elected deputy chair.
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Good Returns
Bank complaints rise
31/03/2022
“We’re not surprised the government’s new rules are making some customers unhappy, and our front line workers bear the brunt of that. It’s also not surprising they’re complaining to the Banking Ombudsman about it, even though we’re not responsible for the rule change,” Beaumont said.
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NZ Herald
Banks’ handling of home loan applications stirs protests
31/03/2022
Beaumont said he was not surprised the government’s new rules were making some customers unhappy, and front line workers were bearing the brunt of that. “It’s also not surprising they’re complaining to the Banking Ombudsman about it, even though we’re not responsible for the rule change.”
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