NZ Herald
Government had three years of warnings new credit rules would shut out borrowers
17/01/2022
“We welcome any investigation into the unintended consequences of the new lending rules. In our submissions on the CCCFA law change and new regulations we’ve set out our concerns all along the way.”
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The Guardian
New Zealand banks reject home loans over spending on Christmas gifts and pets as tighter rules hit
16/01/2022
The New Zealand Bankers’ Association chief executive Roger Beaumont told Stuff the law change meant banks had “much less flexibility or room for lender discretion than was previously the case.”
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Stuff
Home loan changes: Are the banks taking the rules too far?
15/01/2022
“Banks are very much in the business of lending. They are also responsible lenders and take requirements to comply with the law very seriously.”
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NZ Herald
‘It’s ridiculous’: 27 days before bank picks up home loan application
10/01/2022
“The new [CCCFA] rules are fairly tight and there’s much less flexibility or room for lender discretion than was previously the case. For example, you might need to provide evidence of recent transactions so your bank can get a clear idea of your debts and expenses. This means it will take longer to get a...
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Stuff
David Seymour calls for inquiry into ‘unintended consequences’ of loan law changes
07/01/2022
While the New Zealand Bankers Association warned in its submission that proposed laws changes “may” lead to more conservative lending, Watson told MPs it was inevitable.
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Stuff
Government emissions reduction plan not ambitious enough
27/12/2021
Recent submissions on the government’s Emissions Reduction Plan (ERP) from the Sustainable Business Council (SBC), New Zealand Bankers’ Association (NZBA) and Toitū Tahua, the Centre for Sustainable Finance (TT CSF), show an extraordinary willingness among the private sector to engage collaboratively with government on the climate transition and emissions reductions pathways.
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Stuff
Credit crunch: Mortgage brokers hit back at lending rule changes
20/12/2021
“The law change was meant to help vulnerable consumers avoid unaffordable debt. It’s also affecting people seeking home loans, where there are traditionally very low rates of borrowers being unable to make repayments. That’s still the case, but the law change has tightened banks’ ability to lend.”
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Interest.co.nz
Will changes to credit contracts and consumer finance laws lead to a government-induced credit crunch or protect borrowers from predatory lending?
15/12/2021
“One key to reducing harm from problem debt is supporting access to responsible, lower-cost borrowing. However, in our view, several of the proposed changes may unintentionally lead to conservative lending practices to the detriment of consumers,” said the NZBA.
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Partnership boosts banking access
14/12/2021
Financial mentors in small communities are helping people access banking services thanks to a partnership between FinCap and the New Zealand Bankers’ Association. A partnership agreement announced in March is now delivering for people living in places from Balclutha to Murupara through a Banking Collaboration Project funded in the first year of the partnership. Under...
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NZ Listener
Through the roof: Will sky-high building costs ever come down to earth?
12/12/2021
Rather than see this as a matter for the banking industry as a whole, the New Zealand Bankers Association says it is an issue for each member institution to decide based on lending policies and appetite for risk, which would vary from bank to bank.
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