- “Our banks anticipate these threats and have protections in place to help ensure they can keep delivering the seamless digital service that customers now expect. Cyber threats are constantly evolving, as is the banking industry’s vigilance and response to those threats.”
- “As interest rates declined over recent years, these borrowers likely retained their repayments at the same level, or increased them, to help repay their loans faster, which shows a good level of financial capability,” Beaumont said. People were also managing their credit cards well, he said, with 66.6% of card balances paid off in full... Read more »
- NZBA chief executive Roger Beaumont said the figures showed many people with home loans continue to be well placed as interest rates rise from historic lows.
- “In that time, as the FMA says, banks have worked hard to improve their internal conduct processes and proactively identify any issues and remediate them. Banks are also highly engaged in the new conduct regulation for financial institutions being developed by the government.”
- “Banks operate in a highly regulated environment and take their compliance obligations very seriously, including this cap. We can’t comment on competitive issues, including pricing and the products and services offered by our member banks.”
- “The hubs are about providing a solution for customers, particularly in small towns who just for whatever reason aren’t that comfortable yet with the digital or online environment,”
- “Banks have no flexibility to extend credit to customers without a full affordability assessment, which customers are more likely to fail when facing financial difficulty.”
- New Zealand Bankers’ Association (NZBA) Roger Beaumont said by becoming the first Accredited Living Wage industry, banking moved more than 1800 people onto the living wage.
