- Karen Scott-Howman, chief executive of the Bankers’ Association, acknowledged the role banks play in fighting financial crime but said customer privacy and confidentiality was taken seriously.
- NZBA submits that the Guidance Note should retain its current level of flexibility in recognition of the fact that sales conversations can evolve differently. NZBA would not like to see further prescriptive steps or ‘checklists’ added as a result of consultation, which will not necessarily further the objective of providing simple or better advice to... Read more »
- The review will cover the definition of capital, the measurement of risks that the banks face and the minimum capital requirements and buffer,” said Reserve Bank Deputy Governor Grant Spencer in a speech to the New Zealand Bankers’ Association in Auckland.
- Bank customers can be confident about the protection of their private financial information held by banks despite a decision saying Westpac got it wrong in relation to political activist Nicky Hager, says the New Zealand Bankers’ Association.
- The banks, through their industry lobby the New Zealand Bankers’ Association, sought another round of consultation “to work out the detail of the disclosures required, in particular to ensure that the disclosures are comparable between banks with different structures, and to address any other issues that will likely arise.”
- “Fraudsters are always looking for new ways to trick people into providing confidential information which allows them to access bank accounts.” NZBA advises people to never give out confidential information such as PIN numbers or bank account usernames.
- The issue is banks require home loans to be secured against an asset. From a responsible lending and risk perspective, banks will not lend without security, or lend an amount greater than the value of the security.
- Karen Scott-Howman has a black belt in karate, was once a documentary producer and helped launch New Zealand’s first national spelling bee. It’s not quite the background you would expect from a Wellington lawyer whose job is to be the voice of the banking industry.
