Stuff
No harm to consumers in fixing lending law loophole
16/07/2025
Importantly, the proposed amendment to the law does not stop consumers or regulators taking action against lenders for information disclosure breaches. Nor does it stop any cases currently before the courts. It merely confirms that the courts should apply a ‘just and equitable’ approach. It would be up to the courts, as it should be.
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Stuff
Is Government considering a tax on excess bank profits, in disguise?
12/07/2025
Here, banks are already chipping in to the cost of preventing or managing a future crisis, he suggests. The Reserve Bank is raising banks’ capital requirements to “among the highest in the world” and the country has just brought in a depositor compensation scheme, paid for by the banks, to help protect people’s bank deposits, he notes.
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NZ Adviser
New Zealand launches New Zealand Anti-Scam Alliance
11/07/2025
“We’ve been calling for a co-ordinated multi-sector approach to scam prevention and consumer protection since 2023,” said NZBA chief executive Roger Beaumont.
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Newstalk ZB
‘Coordinated approach’ of new anti-scam task force praised
11/07/2025
Banking Association chief executive Roger Beaumont says it will make a difference if all participants play their part. He says particularly social media companies and digital platforms need to do what they can to interrupt scams.
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Banks welcome Anti-Scam Alliance
10/07/2025
The New Zealand Banking Association today welcomed the government’s establishment of the Anti-Scam Alliance. New Zealand Banking Association chief executive Roger Beaumont says: “We’ve been calling for a co-ordinated multi-sector approach to scam prevention and consumer protection since 2023. Today’s announcement is a good step in that direction. “For a long time we have encouraged...
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RNZ
New government ‘alliance’ formed to combat online scammers
10/07/2025
“Banks cannot fight scams alone,” he said. “Scams typically start when people are deceived by fake websites and search engine results, fake emails, texts, social media ads and chats, and phone calls, so there’s a role for telcos, social media companies and global tech platforms to help stop them in the first place.”
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Stuff
Cash comeback? Bill seeks to make retailers accept paper money again
08/07/2025
“At first glance, it appears to be more of an issue for retailers, many of whom no longer accept cash for security reasons and the costs of handling it.”
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Stuff
Government plays down request for advice on tax banks pay
07/07/2025
Banking Association chief executive Roger Beaumont said banks paid more than 22% of all corporate tax and if the Government was considering imposing extra taxes “we would hope they take into account the significant contribution banks already make to the economy, businesses, and households”.
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NZ Lawyer
Banks support proposed changes to fix ‘anomaly’ in consumer lending law
30/06/2025
“The Reserve Bank’s analysis helps to quantify the potential risk to New Zealand’s financial system if the law is not corrected,” said Roger Beaumont.
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NZ Adviser
Product suitability, complaints, OCR moves in the FMA spotlight
28/06/2025
“Our banks take compliance with the law extremely seriously and have spent significant time and resources to develop and implement their FCPs. They’ll also continue to work closely with the FMA on the takeaways for banks raised in the report.”
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