Interest.co.nz
Commerce and Consumer Affairs Minister Andrew Bayly details easier access to loans and changes to financial dispute resolution services
21/04/2024
“We welcome the removal of overly prescriptive affordability assessment requirements because it should help fix the one-size-fits-all approach that treated all types of lending and borrowers the same. The change still means that consumers are protected, and lenders need to be responsible,” NZBA Chief Executive Roger Beaumont says.
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RNZ
Financial mentoring services sound warning over wind-back of lending regulations
21/04/2024
“What it means is it’ll go back to the way it was prior to these regulations, when banks could exercise discretion in determining whether a customer was suitable for a loan or not,” said chief executive Roger Beaumont.
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Good Returns
CCCFA reaction: a return to common sense
21/04/2024
Beaumont is pleased to see moves to simplify other matters in the CCCFA, especially personal liability for directors and senior managers, the requirements for disclosure of information to borrowers and the updating of the Responsible Lending Code guidance, to get the balance right and help ensure consumers don’t see a prescriptive approach reintroduced.
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Newstalk ZB
NZ Banking Association chief executive on the Government’s financial service reforms
21/04/2024
NZ Banking Association chief executive Roger Beaumont joined Mike Hosking.
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Banks welcome changes to consumer lending law
21/04/2024
The banking industry welcomes changes to consumer lending law announced by the government today. New Zealand Banking Association chief executive Roger Beaumont says: “We welcome the removal of overly prescriptive affordability assessment requirements because it should help fix the one-size-fits-all approach that treated all types of lending and borrowers the same. “The change still means...
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NBR
Govt unburdens more prescriptive elements of CCCFA
20/04/2024
“This will help bring back flexibility and discretion for banks to help customers in need, for example in emergency situations, and better recognises that banks already have their own prudent lending policies, which help ensure borrowers can afford to repay any debt.”
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Stuff
Ministers promise it will soon be easier to get a loan
20/04/2024
“This will help bring back flexibility and discretion for banks to help customers in need,” said Banking Association chief executive Roger Beaumont.
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NZ Adviser
Banks call for government aid in anti-scam efforts
15/04/2024
“We’re also asking the government to help remove any regulatory barriers to the Anti-Scam Centre working effectively, and to set scam prevention expectations for other industries,” Beaumont said.
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Interest.co.nz
Bank lobby group to ‘investigate’ a voluntary reimbursement scheme for their customers who become scam victims, throws down the gauntlet to the Government for help with Anti-Scam Centre
15/04/2024
“Banks have launched phase one of the Anti-Scam Centre by identifying and sharing more information faster about mule accounts. We’d like to see other sectors in the scam ecosystem contribute to the Anti-Scam Centre, and the Government can help encourage them to do so,” Beaumont says.
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NZ Herald
Banks want government support for anti-scam centre after crims pilfer millions from Kiwi victims
15/04/2024
“To truly strengthen New Zealand’s scam defences, everyone in the ecosystem needs to step up, and that includes government, telcos, social media companies, and search engines. Banks can’t protect New Zealanders on their own.”
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