Regulator’s KiwiSaver guidance disadvantages consumers
15/10/2012
By rewriting the law, the Financial Markets Authority (FMA) is doing consumers a disservice says the New Zealand Bankers’ Association. Following the release of the FMA’s guidance note on the sale and distribution of KiwiSaver, Bankers’ Association chief executive Kirk Hope expressed serious concerns. “This is bad for consumers because it limits access to information...
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Banks top satisfaction surveys
08/10/2012
A recent survey has revealed that most people rate their bank highly, and that the banking sector in New Zealand rates well above other service sectors. “Banks put a huge effort into customer service and it’s great to see this reflected in the survey results,” says New Zealand Bankers’ Association chief executive Kirk Hope. The...
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Addressing Double Taxation a “Must” for Trans-Tasman Productivity Work
17/09/2012
The New Zealand Bankers’ Association welcomes the interim report of the Australian and New Zealand Productivity Commissions on closer economic relations and a single economic market, but notes that addressing the issue of double taxation of company income was an absolute ‘must do’. “The interim report usefully addresses many of the remaining barriers to a...
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Get financial advice
03/09/2012
As part of Money Week (2 – 8 September), the New Zealand Bankers’ Association is encouraging people to get financial advice on how best to manage their money. “Getting advice about your finances and how best to meet your needs and aspirations is a good idea for everyone. It’s about making informed decisions to manage...
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Spring clean your personal finances
30/08/2012
Money Week is a great time to spring clean your personal financial arrangements says the New Zealand Bankers’ Association. Money Week brings together a range of financial education activities from 2 to 8 September. “Most people think about their personal finances when faced with big life events such as studying, starting work, buying a house...
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Report finds NZ banks continue to perform well
30/08/2012
The New Zealand Bankers’ Association said today that PwC’s Banking Perspectives analysis of the major banks’ results for the first half of their 2012 financial years showed New Zealand banks were continuing to perform well in the face of ongoing global uncertainty. “Our banking industry is in good shape. It’s well capitalised and regulated. Our...
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Email scam alert
19/08/2012
The New Zealand Bankers’ Association is urging the public to be on guard against an email scam. Scammers are sending emails out which appear to come from a New Zealand Bankers’ Association email address: nzba@nzba.org.nz. The scam emails include a subject line of “We are necessitating a verification process on all account(s)”. Anyone receiving this...
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Bankers’ Association welcomes reduced business costs
06/08/2012
The New Zealand Bankers’ Association welcomes the recent introduction of the Financial Reporting Bill by Commerce Minister Craig Foss. The Bill seeks to remove or reduce unnecessary and excessive reporting requirements. This will significantly cut costs for small and medium-sized companies. It will also further reduce barriers to doing business in New Zealand by better...
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Get new Code of Banking Practice – Bankers’ Association
28/06/2012
The New Zealand Bankers’ Association has encouraged bank customers to have a look at the latest Code of Banking Practice, which comes into force on 1 July. Now in its fifth edition, the Code provides a useful guide for customers and their relationship with their banks. “The Code includes a whole lot of useful information...
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Bankers’ Association applauds loan shark prosecution
27/06/2012
The New Zealand Bankers’ Association today applauded the prosecution of third tier lender Barry Hunt for breaches of the Credit Contracts and Consumer Finance Act. “This is a great result. We congratulate the Commerce Commission on a successful prosecution in this case,” said New Zealand Bankers’ Association chief executive Kirk Hope. “At last year’s Financial...
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