Interest.co.nz
ANZ, NZBA take MBIE to task over the lack of plain language in the Responsible Lending Code
20/01/2015
“As we have raised previously in discussions with you, the Code is not drafted in plain language despite the fact that the Code itself requires lenders to provide documentation drafted in plain language to assist customers,” NZBA says in its submission.
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NZBA
Banks review their contracts
14/12/2014
Contracts should be viewed in the context of the consumer credit law within which they operate, rather than in isolation, the New Zealand Bankers’ Association said.
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Guard your card and PIN over the holidays
04/12/2014
The New Zealand Bankers’ Association is urging people to beware of card fraud over the holidays. “It’s that time of the year when people are getting into the festive spirit, doing their Christmas shopping and anticipating the New Year sales. At this busy time it pays to keep your guard up when using your bank...
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Stuff.co.nz
Warnings to beware the credit card trap
30/11/2014
“Only 3 per cent of New Zealand credit card holders pay the minimum each month,” he said. “That’s compared to 13 to 14 per cent in the US and UK. More than half of New Zealanders who have credit cards pay off their balance in full each month, while only a third in the US...
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NBR
Bank of China granted NZ licence
19/11/2014
New Zealand Bankers’ Association chief executive Kirk Hope says the association welcomes the Bank of China as the latest participant in the New Zealand banking industry.
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Protect yourself online this Christmas
18/11/2014
As part of International Fraud Awareness Week the New Zealand Bankers’ Association is urging consumers to stay safe online as we head into the festive season. “Now’s the time that people will be shopping for Christmas. If you’re shopping online there are some simple ways you can protect yourself from financial crime,” said New Zealand...
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3 News
Government credited with improving bank profits
04/11/2014
Hope says the profits are result of the government’s “prudent fiscal management”, which has kept New Zealand’s economy strong. “It’s probably a preferable outcome to the opposite, which is what we’re seeing in Europe, where there is continued malaise, businesses are unable to get lending to help grow the economy and there are real problems.”
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Stuff.co.nz
Auckland property owners warned
21/10/2014
Aucklanders feeling wealthier on the back of higher property valuations are being urged not to borrow more on what is essentially “paper wealth”. Kirk Hope, chief executive of the Bankers’ Association, said banks would be very discerning. “Just because a value increases doesn’t mean they will be able to borrow more,” he said.
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NZ Herald
Highs and lows of apartment life
21/10/2014
Chief executive Kirk Hope said: “Size is among a number of factors that banks may take into account when looking at lending on apartments. When lending on small apartments the bank needs to consider if it will get its money back in case of default. It may not where demand for very small residences is...
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NZ Herald
Your Money: Do sums about servicing a mortgage before borrowing to the hilt
20/10/2014
Hope encourages borrowers to get in touch with their bank as soon as possible if their circumstances change. If they think they can’t make the payment then borrowers could go on a mortgage holiday or restructure the loan to stretch it out over a longer timeframe lowering the repayment levels.
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