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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Interest.co.nz
Changes to consumer lending rules from December 1 bring increased requirement to verify borrower information and assess suitability
17/11/2021
Roger Beaumont, CEO of bank lobby group the New Zealand Bankers’ Association, said; “banks are responsible lenders, and we support the aims of the law changes to help people avoid taking on unaffordable debt. We also think it’s important that people are prepared for what the law change will mean for them when they apply...
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Autofile
Fresh guidance on new lending laws
16/11/2021
“We also think it’s important that people are prepared for what the law change will mean for them when they apply for a loan. Customers will have to provide more information and lenders will need to do more to check it’s correct, which will make the whole process longer.”
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“Changes to consumer lending and how it affects you” – information welcomed by financial mentors and lenders
15/11/2021
Changes to consumer lending law to help people avoid unaffordable debt mean it may take longer to get a loan from 1 December. Information to help consumers prepare for the changes has been welcomed by financial mentors and lenders. The changes to the Credit Contracts and Consumer Finance Act 2003 mean credit applications are likely...
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Good Returns
Bankers Association agrees rules can be difficult
05/10/2021
“As an industry we sometimes find implementing deadlines can be challenging,” Beaumont said. “For example, the law sets a compliance date but the more detailed regulations or guidance are not available until close to the deadline.”
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Interest.co.nz
Fairness issues raised over Reserve Bank’s decision to close the door on first-home buyers who don’t have deposits of at least 20%
26/09/2021
The New Zealand Bankers’ Association asked for the first reporting period the rules will apply to, to be extended by three months to March 31. “Without this period, banks will need to temporarily slow high LVR lending in a much more dramatic way to meet the new requirements.”
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NZ Herald
Banking watchdog reports deluge of hardship complaints, big rise in scams
05/09/2021
NZ Bankers’ Association chief executive Roger Beaumont told the Herald, “All banks can offer options for customers experiencing hardship. We’ve been particularly conscious of this through the economic impact of Covid-19.
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