Interest.co.nz
What’s in the banking code and why should you care. Amanda Morrall talks to Kirk Hope from the NZ Bankers’ Association
29/06/2012
It may never rival the popularity of the Da Vinci Code, but there is good reason why everyday banking customers will want to read the Code of Banking Practice
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Interest.co.nz
Commerce Commission prosecutes ‘reprehensible’ loan shark who charged interest rates as high as 1,738% to vulnerable consumers
29/06/2012
The New Zealand Bankers’ Association issued a statement applauding Hunt’s prosecution. NZBA chief executive Kirk Hope said at last year’s Financial Summit the banking industry had agreed with regulators and consumer groups that robust enforcement of existing consumer protection law was crucial to cracking down on rogue lenders who prey on vulnerable people.
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Interest.co.nz
Amanda Morrall looks at the principles of responsible lending and finds out how to shark proof your borrowing plan with high interest lenders
29/06/2012
n defence of lenders, Hope said it needs to be recognised by those critical of finance companies that the circumstances of borrowers (particularly those using credit facilities) can change from the time of the loan.
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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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Interest.co.nz
‘No wholesale move by banks to sell people out of their homes,’ bank lobby group says responding to Terralink pointing to ‘marked upturn’ in major banks forcing mortgagee sales
13/06/2012
Bank lobby group the New Zealand Bankers’ Association has hit back at suggestions from property information provider Terralink that mortgagee sales are rising because of a “marked upturn” in the major banks forcing them, saying the total number of mortgagee sales last year was less than 0.2% of the total number of mortgages and there’s...
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Mortgagee sales less than 0.2% of all mortgagesT
11/06/2012
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...
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Stuff.co.nz
Banks cry foul over levy
07/06/2012
“The benefits to already responsible participants are not at all evident compared to the costs they are being asked to shoulder,” Hope said. While banks could pose a greater structural risk to the economy, Hope said the prudential risks of the sector were already being managed by the Reserve Bank. “At a structural level we’re talking about...
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NZ Herald
Banks pay big fees to fund FMA
07/06/2012
New Zealand Bankers’ Association chief executive Kirk Hope said it had no issue with an industry contribution to FMA costs but the levy was disproportionate to the benefits received.
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FMA levy misses the mark
05/06/2012
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...
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