Business Desk
Govt makes more changes to lending regime
02/08/2022
“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.”
Read Article
Stuff
Government makes further changes to responsible lending rules
02/08/2022
“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.”
Read Article
NZ Herald
Government unveils plans to further loosen consumer lending rules
02/08/2022
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.
Read Article
Stuff
‘Dozens’ complain about battle to end direct debits, ombudsman says
22/07/2022
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.
Read Article
NZ Herald
Construction slowdown: New build inquiries drop by up to 80 per cent, more companies could go bust alongside job losses
20/07/2022
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.
Read Article
Interest.co.nz
New Zealand Bankers’ Association wants to see more detail on the role of finance in the Government’s Draft National Adaptation Plan
12/07/2022
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.
Read Article
Stuff
Responsible lending changes kick in, but banks doubt they will give mortgage lending a boost
07/07/2022
“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.”
Read Article
TVNZ
Changes to credit laws not enough, critics say
05/07/2022
“Our banks are telling me that approximately 10% of loans that would’ve been approved prior to December 1 are now being declined because of these regulations.”
Read Article
NZ Herald
Housing affordability worst since 1957, impacted by high interests and house prices
23/06/2022
New Zealand Bankers’ Association chief executive Roger Beaumont said the current economic and regulatory environment certainly affected first-home buyers.
Read Article
Good Returns
CoFI bill changes welcomed by advisers body
21/06/2022
“Financial institutions are in contractual relationships with intermediaries,” the association wrote. “Intermediaries are not their employees or contractors, and financial institutions do not have the ability to “manage” or “supervise” intermediaries outside of what is contractually agreed on a case-by-case basis.” The NZBA called for “monitoring”, rather than “managing” and “supervising”, intermediaries.
Read Article
