Interest.co.nz
Government says the big banks have promised not to close any regional branches while a four-location trial of banking hubs is under way from early next year
29/09/2019
“Each Banking Hub pilot will test different ways of adapting to community demand and requirements and services will evolve over time. They will provide different capabilities, with variations in technology and personal service.”
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RNZ
Regional banking hubs to be trialled in towns
29/09/2019
New Zealand Bankers’ Association chief executive Roger Beaumont said the partnership of six banks would use innovative ideas and technology to help communities that “feel left behind when physical branches close”.
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NZ Adviser
Bank and insurer groups welcome govt’s new regime
25/09/2019
“We will work closely with the government and regulators to develop and implement the new requirements,” New Zealand Bankers’ Association chief executive Roger Beaumont stated.
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Interest.co.nz
Government’s proposed conduct licensing regime for financial service providers will make them accountable for sales to consumers
24/09/2019
“Since last year’s Bank Conduct and Culture Review all banks have committed to removing sales incentives for frontline salespeople and their managers. While that review found no evidence of widespread misconduct and culture issues across the industry here we accept there’s work to do to put better systems and processes in place to ensure good...
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TVNZ
Government to ban ‘profits ahead of people’ tactics by banks, insurers
24/09/2019
“You can be confident that the person you’re talking to is not being incentivised in any way to sell you a product or service.”
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Stuff
Laws will levy ‘strong’ fines on banks, insurers
24/09/2019
“Banks want to treat their customers fairly. It’s good for customers and good for business.”
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Otago Daily Times
RBNZ to publicise regulatory breaches
03/09/2019
NZBA said that it supported openness and transparency and was pleased the central bank had accepted that only actual material breaches be published.
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Farmers Weekly
Banks support farm mediation
26/08/2019
In its submission on the Farm Debt Mediation Bill presented to the Primary Production Select Committee the Bankers Association said it supports the Bill, which has the potential to shorten the amount of time taken to get a resolution and avoid the need for creditor enforcement.
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Newshub
The ‘way over the top regulations’ National wants to dump
25/08/2019
New Zealand Bankers’ Association chief executive Roger Beaumont suggested the policy was needless as New Zealand currently has “one of the fastest bank switching processes in the world”.
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Interest.co.nz
Farmers want Farm Debt Mediation Bill tweaked
23/08/2019
The Bankers’ Association highlighted in its submission: “continual discussions and negotiations between lenders and with their farming customers is the norm in a banking relationship and in the event there is a dispute that warrants having a formal process with an independent “circuit breaker” involved, members would actively encourage mediation (regardless of the statutory scheme)”.
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