NZ Adviser
Bank and insurer groups welcome govt’s new regime
25/09/2019
“We will work closely with the government and regulators to develop and implement the new requirements,” New Zealand Bankers’ Association chief executive Roger Beaumont stated.
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Banks welcome new financial conduct regime
25/09/2019
The New Zealand Bankers’ Association today welcomed the government’s announcement to introduce a new regime for financial service providers to ensure fairer treatment for customers. “Banks want to treat their customers fairly. It’s good for customers and good for business. We welcome further steps to help ensure we’re doing that. We will work closely...
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Bank staff to help teach School Leavers’ Toolkit
25/09/2019
The banking industry will provide hands-on skills to support the School Leavers’ Toolkit by making staff available to teach the financial literacy component, as required. The New Zealand Bankers’ Association has been involved in the development of the toolkit since it began, providing ideas, specialist expertise and content approval for the financial literacy component. Banks...
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Interest.co.nz
Government’s proposed conduct licensing regime for financial service providers will make them accountable for sales to consumers
24/09/2019
“Since last year’s Bank Conduct and Culture Review all banks have committed to removing sales incentives for frontline salespeople and their managers. While that review found no evidence of widespread misconduct and culture issues across the industry here we accept there’s work to do to put better systems and processes in place to ensure good...
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TVNZ
Government to ban ‘profits ahead of people’ tactics by banks, insurers
24/09/2019
“You can be confident that the person you’re talking to is not being incentivised in any way to sell you a product or service.”
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Stuff
Laws will levy ‘strong’ fines on banks, insurers
24/09/2019
“Banks want to treat their customers fairly. It’s good for customers and good for business.”
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Otago Daily Times
RBNZ to publicise regulatory breaches
03/09/2019
NZBA said that it supported openness and transparency and was pleased the central bank had accepted that only actual material breaches be published.
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Farmers Weekly
Banks support farm mediation
26/08/2019
In its submission on the Farm Debt Mediation Bill presented to the Primary Production Select Committee the Bankers Association said it supports the Bill, which has the potential to shorten the amount of time taken to get a resolution and avoid the need for creditor enforcement.
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Newshub
The ‘way over the top regulations’ National wants to dump
25/08/2019
New Zealand Bankers’ Association chief executive Roger Beaumont suggested the policy was needless as New Zealand currently has “one of the fastest bank switching processes in the world”.
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Interest.co.nz
Farmers want Farm Debt Mediation Bill tweaked
23/08/2019
The Bankers’ Association highlighted in its submission: “continual discussions and negotiations between lenders and with their farming customers is the norm in a banking relationship and in the event there is a dispute that warrants having a formal process with an independent “circuit breaker” involved, members would actively encourage mediation (regardless of the statutory scheme)”.
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