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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Newshub
Climate change warning: Shorter mortgage loans, higher insurance for beachfront property
17/08/2019
New Zealand Bankers’ Association chief executive Roger Beaumont confirmed that banks might shorten mortgage for properties that are at risk. He also raised the issue of insurance, saying without insurance banks won’t approve a home loan.
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NZ Herald
Surge in mortgage inquiries after official cash rate cut to record low
11/08/2019
“It’s a good idea to calculate the potential interest rate savings for the balance of the fixed period against the break cost. Then you can make a carefully considered decision and not just chase a cheaper rate. Your bank should be able to help with this comparison.”
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NZ Herald
RBNZ Governor Adrian Orr accuses banks of ‘scaring the public’ with aggressive lobbying
08/08/2019
Bankers’ Association chief executive Roger Beaumont said it was up to each bank as to how it responded if the rules come into effect. “Our independent economic analysis suggests there will likely be tightening of lending in some parts of the economy such as small business and agriculture.”
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Stuff
Customer rejects $2000 compensation from ANZ over hardship application
30/07/2019
New Zealand Bankers’ Association chief executive Roger Beaumont said banks had different organisational structures to deal with hardship and loan repayment issues.
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NZ Herald
A bill that takes aim at loan sharks could disproportionately impact NZ’s most vulnerable
24/07/2019
“Conservative lending practices, which drive consumers to higher-cost and potentially irresponsible lending, run counter to the important policy objectives of promoting financial inclusion and access to safer credit.”
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NZ Herald
Diana Clement: What happens to your dough after you go?
30/06/2019
Organisations that carry out business in New Zealand are required to report inactive accounts under the Unclaimed Money Act 1971.
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NZ Herald
New Zealand’s farm debt is close to $63 billion – a new bill seeks to ease the financial burden
18/06/2019
NZBA said banks know the role farmers play in the economy and that it’s important they succeed.
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NZBA welcomes farm debt mediation announcement
17/06/2019
The New Zealand Bankers’ Association today welcomed the government’s announcement that it will introduce a bill to set up a farm debt mediation scheme. “Banks are responsible lenders that take a long-term view to the rural sector. They know the vital role farmers play in the economy and that it’s important they succeed,” says New...
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Stuff
‘Hidden’ currency conversion fees costing Kiwis billions
16/06/2019
“International money transfers made from a banking app or by internet banking usually include a fee to cover other overseas bank costs. And there will also be an exchange rate conversion fee if sending money in a currency other than New Zealand dollars.”
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