Interest.co.nz
Commerce Commission says which bank gets our savings and home loans could reveal whether there’s enough bank competition
10/08/2023
Industry group, the New Zealand Banking Association, said the Commerce Commission’s preliminary issues paper was comprehensive and shows an understanding of key issues in personal banking.“In particular, the focus on the significant current regulatory requirements as well as those in train will provide important context to competition and barriers in the industry.”
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Interest.co.nz
Government set to gut loan affordability rules in CCCFA review to make sure people can borrow when they have good credit
09/08/2023
Beaumont said the permanent emergency exemption was a pragmatic step forward to enable banks to support customers quickly in a time of emergency, which the industry had been requesting since well before Cyclone Gabrielle.
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Newshub
Auckland woman’s warning to homeowners after losing property in mortgagee sale
22/07/2023
Roger Beaumont from the New Zealand Banking Association says mortgagee sales should be a last resort. “More often than not, these situations occur when there has been a breakdown in communication,” he told Newshub.
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Banks launch three new hubs in regional banking trial
16/07/2023
Three new regional banking hubs will open from this week as part of the latest phase of the regional banking hub trial led by the country’s six biggest retail banks. The three new hubs will be in Waimate, Whangamatā and Ōpōtiki. The Waimate hub will open its doors this Friday, with the remaining hubs opening...
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Stuff
Prisoners paying a double price for their crimes, report suggests, as some struggle to get money lives on track
08/07/2023
The New Zealand Banking Association Te Rangapū Pēke said banks would be likely to support government initiatives as long as they didn’t compromise banks’ anti-money laundering obligations.
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Consumer NZ
Scams: Should your bank be liable for losses?
07/07/2023
NZBA chief executive Roger Beaumont believes that broadening the Code of Banking Practice to cover APP scams would mean “banks take on all or most of the risk of customer decisions, meaning customers have little incentive or responsibility to protect their money. This could lead to much greater fraud losses.”
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Consumer NZ
Scams: Should your bank be liable for losses?
06/07/2023
NZBA chief executive Roger Beaumont believes that broadening the Code of Banking Practice to cover APP scams would mean “banks take on all or most of the risk of customer decisions, meaning customers have little incentive or responsibility to protect their money. This could lead to much greater fraud losses.”
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Stuff
Digital disruptor Revolut takes a swipe a high profits of ‘legacy’ banks
02/07/2023
But it is not a member of the Banking Association Te Rangapū Pekē, whose member banks promise to reimburse fraud losses for customers who were not dishonest or negligent, complied with their banks’ terms and conditions for electronic banking or card use, and took reasonable steps to protect their banking.
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Newsroom
Commerce Commission should probe ‘stubbornly’ high remittance costs
02/07/2023
“The Commerce Commission will determine the scope of the market study. Banks are open and transparent and will participate fully in the areas the Commission wishes to look at.”
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NZ Herald
Consumer NZ boss Jon Duffy wants New Zealand banks forced to refund Kiwi scam victims
02/07/2023
“To address this properly we need all parties involved including, for example, global tech companies, telcos, internet service providers, government agencies, dispute resolution services, and consumer representatives and advocates.” Matching accounts and names with the customer’s intended recipient had privacy implications that would need to be overcome, Beaumont said.
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