Recent submissions on the government’s Emissions Reduction Plan (ERP) from the Sustainable Business Council (SBC), New Zealand Bankers’ Association (NZBA) and Toitū Tahua, the Centre for Sustainable Finance (TT CSF), show an extraordinary willingness among the private sector to engage collaboratively with government on the climate transition and emissions reductions pathways.
Month: December 2021
Credit crunch: Mortgage brokers hit back at lending rule changes
“The law change was meant to help vulnerable consumers avoid unaffordable debt. It’s also affecting people seeking home loans, where there are traditionally very low rates of borrowers being unable to make repayments. That’s still the case, but the law change has tightened banks’ ability to lend.”
Will changes to credit contracts and consumer finance laws lead to a government-induced credit crunch or protect borrowers from predatory lending?
“One key to reducing harm from problem debt is supporting access to responsible, lower-cost borrowing. However, in our view, several of the proposed changes may unintentionally lead to conservative lending practices to the detriment of consumers,” said the NZBA.
Partnership boosts banking access
Financial mentors in small communities are helping people access banking services thanks to a partnership between FinCap and the New Zealand Bankers’ Association. A partnership agreement announced in March is now delivering for people living in places from Balclutha to Murupara through a Banking Collaboration Project funded in the first year of the partnership. Under… Read more »
Through the roof: Will sky-high building costs ever come down to earth?
Rather than see this as a matter for the banking industry as a whole, the New Zealand Bankers Association says it is an issue for each member institution to decide based on lending policies and appetite for risk, which would vary from bank to bank.
Digital Identity Services Trust Framework Bill
Economic Development, Science and Innovation Committee
ANZ wants branch workers to be vaccinated or take rapid antigen test. But what about customers?
An NZBA spokesman said under that guidance retail was not required to use My Vaccine Passes, but if a business opted to require these, then it was recommended the business sight and/or verify customers’ My Vaccine Passes. He said that effectively meant it was up to each bank to decide whether or not it required… Read more »
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