Interest.co.nz
FMA criticised for compromising quality by trying to increase the quantity of KiwiSaver advice on offer
07/03/2017
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...
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NZ Herald
RBNZ announce review of bank capital requirements
07/03/2017
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.
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NBR
Bankers Association says NZ can’t have one-size-fits-all on privacy cases
21/02/2017
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.
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NBR
RBNZ to hold more talks over bank quarterly disclosure regime
14/02/2017
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.”
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Stuff.co.nz
Scammers almost swipe $12,000 from Motueka woman
11/02/2017
“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.
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Interest.co.nz
Builders call for banks to rethink rules that prevent first home buyers from getting mortgages to build prefab houses
18/01/2017
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.
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Stuff
Customers drive banking innovation
16/01/2017
Where bankers may once have shunned technology, the opposite is true today. This century we’ve seen a massive leap in access to personal digital technology. That’s clearly reflected in how we’re now banking. These technological advances mean we’re managing our money in ways that many did not foresee. What’s behind these changes, and what does...
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Interest.co.nz
Bank lobby group says ‘no thanks’ to RBNZ’s dashboard disclosure proposal
19/12/2016
New Zealand banks have come out strongly against their regulator’s plans to enforce its proposed dashboard quarterly disclosure regime on them.
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NZ Herald
Telling the banks’ side of the story
17/12/2016
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.
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Interest.co.nz
Banks don’t know how vulnerable they are to underinsurance
13/12/2016
Scott-Howman says banks are continuing to provide home loans in quake-affected areas. “There may be issues around insurance. In line with previous practice, banks will continue to require insurance for the properties they lend on,” she says.
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