NZ Herald
Banking Ombudsman says scams surging, cost-of-living crisis a worry for many customers
23/09/2024
Earlier this year, NZ Banking Association chief executive Roger Beaumont urged telcos and social media platforms to take down fake websites.
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RNZ
Nearly 80 fraud and scam cases reported to banking watchdog every month, report shows
23/09/2024
Banks alone could not protect New Zealanders from scams and had asked the government for help, involving from police and other agencies, New Zealand Banking Association chief executive Roger Beaumont said.
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Newstalk ZB
Banks are pleased with changes to “draconian” lending legislation
05/09/2024
He said that one of the key changes is that the “draconian” personal liability legislation for managers and banks will be removed.
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RNZ
‘Higher income’ doesn’t mean much – financial coach
29/08/2024
“We’d encourage anyone experiencing financial difficulty to talk to their bank as soon as possible. The sooner you talk to your bank, the better placed they’ll be to assess your particular circumstances and discuss options to try to find a way through.”
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Politik
Making Kiwibank fly – with (or without) Winston
21/08/2024
“We will assess which initiatives could involve an industry approach and which ones banks will need to address individually.”
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NZ Herald
Banking competition report: The oligopoly has been saved from radical reform
21/08/2024
Chief executive Roger Beaumont praised the report: “The Commission has taken a well-informed and considered approach to the market study, which has provided useful insights into the New Zealand banking sector. We’re particularly pleased to see the Commission’s focus on the regulatory environment in which our banks operate … We support quality regulation that makes...
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Interest.co.nz
Nicola Willis & Andrew Bayly set sights on Kiwibank, open banking, the Reserve Bank & mortgage brokers in response to Commerce Commission competition study
20/08/2024
“We’re particularly pleased to see the Commission’s focus on the regulatory environment in which our banks operate, and how that impacts further competition in the sector.”
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Farmers Weekly
Banks deny airbrushing data ahead of inquiries
12/08/2024
The New Zealand Banking Association labelled as “outrageous” claims its members misled the Reserve Bank in their most recent reporting of credit availability to the rural sector.
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Good Returns
Bankers’ personal liabilities under CCCFA to remain
05/08/2024
The NZBA’s Beaumont also has concerns around personal liability and its impact on lending decisions. “This likely creates a zero-tolerance for any potential breach, which could result in an overly conservative approach to lending under the [CCCF] Act, and may in turn make accessing consumer credit unnecessarily difficult. It could also mean consumers who could...
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Law News
CCCFA ‘fixed’ but govt refuses to scrap personal liability for lenders
05/08/2024
“We think banks should be accountable for CCCFA compliance as entities, rather than having liability targeted at individuals.” Beaumont says disclosure obligations, which include punitive penalties even when there is no material impact on the borrower, are another problem.
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