Month: February 2022

Credit crunch or responsible lending? Has the law gone too far?

Clark has already pointed the finger at the banks, hinting that they may not have been complying with responsible lending obligations before the changes came in. However in a statement this week, the New Zealand Bankers’ Association said it did not know what Clark was referring to.

Roger Beaumont: Banks are taking the lending rules seriously

Clark said banks weren’t adhering to responsible lending rules before new legislation came in last year.  The Bankers Association’s Roger Beaumont told Heather du Plessis-Allan Clark’s not correct.

Banks deny minister’s irresponsible lending accusation

“We’ve made several submissions on the CCCFA law change and new regulations since 2018. In our submissions we’ve set out our concerns all along the way. The investigation might be able to clarify some of those concerns and hopefully identify some useful solutions.”

Lending probe: David Clark hints banks not following the rules

“The suggestion that banks were not complying with their responsible lending obligations before the latest CCCFA changes comes as a surprise. Banks are simply complying with the new rules as they are written.