- 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... Read more »
- 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... Read more »
- he New Zealand Bankers’ Association revealed today that the number of mortgagee sales was less than 0.2% of the total number of mortgages held by New Zealanders. In 2011 there were 2263 mortgagee sales, compared to over 1.2 million mortgages. “This is a tiny fraction of total mortgage numbers,” said New Zealand Bankers’ Association chief... Read more »
- The New Zealand Bankers’ Association today expressed disappointment at the government’s announcement on the way it intends to levy the financial sector to fund the Financial Markets Authority. “Banks are well-regulated responsible lenders operating at the top end of the market. “The levies should better reflect the costs and benefits where they actually fall,” said... Read more »
- Prudent management of the public purse is essential to keeping down the cost of credit said the New Zealand Bankers’ Association today in response to Budget 2012. The Association supported moves to ensure borrowing costs for the government, householders and business owners do not increase unnecessarily. Initiatives that kept the NZ dollar at a realistic... Read more »
- Recent cuts in fixed interest rates highlight the level of intense competition in the New Zealand banking sector. This is good news for borrowers, but will impact on returns for bank depositors. Interest rates are at historically low levels. This is due to a drop in wholesale interest rates as a result of ongoing uncertainty... Read more »
- The New Zealand Bankers’ Association today welcomed KPMG’s annual Financial Institutions Performance Survey (FIPS). In its 25th year, the 2011 survey shows New Zealand has a strong, stable and highly competitive banking sector that continues to serve New Zealand businesses and consumers very well in a globally uncertain environment. “Our banks are well placed to... Read more »
- With heightened awareness around recent card fraud, the New Zealand Bankers’ Association has issued a reminder to check bank statements regularly. “We can all help in the fight against fraud by keeping an eye on our bank accounts. If you identify an unauthorised transaction, contact your bank immediately,” said New Zealand Bankers’ Association chief executive... Read more »
- A strong and resilient banking sector will play a critical role in New Zealand’s ongoing economic recovery, said the new chairman of the New Zealand Bankers’ Association (NZBA), David Hisco. Mr Hisco, CEO of ANZ National, has been elected chair of the NZBA for 2012/13. Westpac New Zealand chief executive Peter Clare is the deputy... Read more »
- The New Zealand Bankers’ Association has welcomed the government’s release today of a draft bill targeted at loan sharks and fringe lenders. The draft bill, which will amend the Credit Contracts and Consumer Finance Act 2003, proposes introducing a duty for all lenders to practice responsible lending. The Ministry of Consumer Affairs has acknowledged banks... Read more »
