Month: June 2018

Law requires banks to freeze some accounts

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Some New Zealanders are having their bank accounts frozen because of OECD regulations reflected in New Zealand law, which requires banks to comply. “If your bank has asked you about your foreign tax status, you should respond as soon as possible, regardless of your tax status,” says New Zealand Bankers’ Association deputy chief executive Antony… Read more »

Bank staff stressed by conflicted sales targets

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Sedgwick recommended that any bonuses be based on a range of measures, including factors like customer satisfaction. Some of our banks have already completed this work.

Time for a ban on bank sales targets in NZ, says union

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New Zealand Bankers’ Association deputy chief executive Antony Buick-Constable said the organisation’s latest Code of Banking Practice made a clear commitment to treat customers fairly and reasonably in a consistent and ethical way.

How you can help prevent financial elder abuse

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If you see, or are aware of, any signs of financial elder abuse then it’s important you call for help. That is the key message from the New Zealand Bankers’ Association as Elder Abuse Awareness Week is launched today. “Financial elder abuse can include everything from illegal or wrongful use of older people’s money, their… Read more »

Reserve Bank plans to crack down on bank boards

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The New Zealand regulators have annual work programmes to improve the governance and operations of our banking environment. Banks here work regularly with them on these initiatives.

Privacy Bill

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Justice Committee