- “The best option presented to him would have been to target affordability regulations to riskier lending and lenders, as well as make changes to the penalties regime. Targeting affordability requirements to support those most at risk would provide them with appropriate protections as well as freeing up lending for those who can afford it.”
- “Targeting affordability requirements to support those most at risk would provide them with appropriate protections as well as freeing up lending for those who can afford it.”
- “The best option presented to him would have been to target affordability regulations to riskier lending and lenders, as well as make changes to the penalties regime.”
- Roger Beaumont, NZBA chief executive, said it would have been better to target affordability regulations to riskier lending and lenders, as well as make changes to the penalties regime.
- Commerce and Consumer Affairs Minister David Clark took the wrong option presented to him in the review into the Credit Contracts and Consumer Finance Act released today. “The Council of Financial Regulators report released today presented a range of better options than those chosen by the Minister,” says New Zealand Bankers’ Association chief executive Roger... Read more »
- New Zealand Bankers’ Association chief executive Roger Beaumont said people could cancel a direct debit authority at any time through their banks and did not require the merchant’s permission to do so.
- New Zealand Bankers’ Association chief executive Roger Beaumont said rising interest rates, albeit from historic lows, had a real impact on a borrower’s ability to afford repayments on a home loan. Another big factor was the consumer lending rule changes the Government brought in last December.
- NZBA suggests this in its submission to the Ministry for the Environment on the Government’s Draft National Adaptation Plan (NAP). It also says the NAP could be more ambitious, and should include more detail to be more effective.
- “We believe that by working with government and organisations like FinCap, we can find a way to both protect vulnerable consumers from unscrupulous lenders and ensure a less restricted flow of credit to those who can afford it.”
- “Our banks are telling me that approximately 10% of loans that would’ve been approved prior to December 1 are now being declined because of these regulations.”
