- “Banks operate in a highly regulated environment and take their compliance obligations very seriously, including this cap. We can’t comment on competitive issues, including pricing and the products and services offered by our member banks.”
- “The hubs are about providing a solution for customers, particularly in small towns who just for whatever reason aren’t that comfortable yet with the digital or online environment,”
- “Banks have no flexibility to extend credit to customers without a full affordability assessment, which customers are more likely to fail when facing financial difficulty.”
- New Zealand Bankers’ Association (NZBA) Roger Beaumont said by becoming the first Accredited Living Wage industry, banking moved more than 1800 people onto the living wage.
- New Zealand Bankers’ Association (NZBA) Roger Beaumont said by becoming the first Accredited Living Wage industry, banking moved more than 1800 people onto the living wage.
- New Zealand Bankers’ Association chief executive Roger Beaumont says banks can no longer help customers who might need a low-interest loan for an emergency, and the Government did not address this issue in its recent announcement on further changes to the Act.
- New Zealand Bankers’ Association chief executive Roger Beaumont said lending policies and risk appetite would vary from bank to bank and could change over time. “In applying those policies, banks will look at a borrower’s particular circumstances, including their debt levels, security, and ability to repay any loans.”
- However, it wasn’t just banks that needed to know about property at possible risk from more frequent extreme weather events and rising sea levels. “This information needs to be freely available in a form that’s easily understood to property owners, potential buyers, developers, insurers, local authorities as well as lenders.”
- “Banks operate in a highly regulated environment and take their compliance obligations very seriously. In this case, we respect the fact that the cap has been set by the government.”
- That has disappointed the NZ Bankers Association, whose CEO Roger Beaumont said it would have been better to target affordability regulations to riskier lending and lenders, as well as to make changes to the penalties regime.
