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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NZ Herald
ANZ wants branch workers to be vaccinated or take rapid antigen test. But what about customers?
01/12/2021
An NZBA spokesman said under that guidance retail was not required to use My Vaccine Passes, but if a business opted to require these, then it was recommended the business sight and/or verify customers’ My Vaccine Passes. He said that effectively meant it was up to each bank to decide whether or not it required...
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Good Returns
Banks need to make CCCFA easy for advisers: Gough
23/11/2021
The bravest of brave faces has come from the Bankers Association, which declared that “banks are responsible lenders, and support the aims of the law”. Earlier, the association complained the CCCFA was being rushed through without sufficient clarity on what had to be done and without enough time to do it.
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We all have a role to play in calling out economic harm
22/11/2021
If you see signs of economic harm among family and friends, it’s important to call it out. That’s a key message from the New Zealand Bankers’ Association, which is supporting the first Economic Harm Awareness Day in Aotearoa New Zealand organised by Good Shepherd NZ on Friday 26 November. Economic harm can affect anyone, regardless...
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Stuff
How banks tried to shut down multi-million dollar legal threat, but failed
21/11/2021
Roger Beaumont, NZBA’s chief executive said Section 99(1A) was introduced at speed in 2015 and the way in which it could be interpreted “could lead to excessive consequences from failing to comply with some customer information disclosure requirements. We did not agree with that interpretation and, therefore, sought to address the risk through further law...
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