Interest.co.nz
Reforming the controversial Credit Contracts & Consumer Finance Act could turn out to be more complex than hoped by its critics
26/10/2023
“Without retrospective change, there is a real risk that a minor error in disclosure, which has no borrower impact and does not reflect irresponsible or poor lending practices, will have serious consequences,” the NZBA submission said.
Read Article
Consumer NZ
Rural banking: Are the new hubs working?
24/10/2023
The seven hubs are part of a trial by the New Zealand Banking Association to find a new approach to providing banking services in rural areas. Six banks are involved – ANZ, ASB, BNZ, Kiwibank, TSB and Westpac.
Read Article
Stuff
Will new government provide easier path for mortgage borrowers?
17/10/2023
“Every time there’s a change, banks need to adjust their lending policies and processes and re-train staff. Part of developing quality regulation is making sure it’s fit for purpose the first time around.”
Read Article
NZ Adviser
How are bank home loan volumes tracking?
14/10/2023
New Zealand Banking Association chief executive Roger Beaumont told NZ Adviser that the drop in the number of new home loans was a likely reflection of the state of the housing market and wider economic conditions during the first half of 2023.
Read Article
Good Returns
Number of borrowers ahead on repayments dips slightly
13/10/2023
“For a long time, when interest rates were at an historic low, people who relied on income from bank deposits got relatively low returns. Now that interest rates are up, people are investing more in term deposits.”
Read Article
Interest.co.nz
NZ Banking Association figures show while many mortgage holders remain ahead with repayments, 1.4% are behind, while over 9000 bank customers applied for hardship status
11/10/2023
“Over 43% of home loan customers were ahead on their loan repayments, compared to 1.4% of home loan customers behind on their repayments. That shows that many people with home loans are managing relatively well. It means that those paying more than their minimum repayments likely built in a cushion in case their circumstances change.”
Read Article
Bank customers remain resilient in challenging times
10/10/2023
Savers are making the most of higher interest rates and borrowers are managing through the current economic challenges, according to retail banking data insights for the six months to June released by the New Zealand Banking Association today. New Zealand Banking Association chief executive Roger Beaumont says that while the rise in the cost of...
Read Article
Stuff
Consumer NZ calls on banks to act faster to battle scams
20/09/2023
The NZ Banking Association said last week that the industry was focusing on a number of initiatives to fight fraud and scams, including real-time information sharing between organisations affected by scams, and a confirmation of payee account name checking service.
Read Article
The Paypers
New Zealand banks take scam-preventing measures
18/09/2023
According to the New Zealand Banking Association, banks have made significant investments when it comes to fraud analytics and prevention. These investments aim to help identify unusual spending on credit cards and check with customers before processing those payments, as well as warn of potential scams when customers make payments in suspicious circumstances.
Read Article
Interest.co.nz
Banking Ombudsman says complaints from scammed New Zealanders show they lost on average $57,000
18/09/2023
As part of the banking industry’s Friday announcement, the NZBA said the industry supported a national anti-scam centre, would remove hyperlinks from text messages and would work together to freeze mule accounts, used to siphon stolen money from victims.
Read Article
