New Zealand Bankers’ Association chief executive Roger Beaumont said people could cancel a direct debit authority at any time through their banks and did not require the merchant’s permission to do so.
Month: July 2022
Construction slowdown: New build inquiries drop by up to 80 per cent, more companies could go bust alongside job losses
New Zealand Bankers’ Association chief executive Roger Beaumont said rising interest rates, albeit from historic lows, had a real impact on a borrower’s ability to afford repayments on a home loan. Another big factor was the consumer lending rule changes the Government brought in last December.
New Zealand Bankers’ Association wants to see more detail on the role of finance in the Government’s Draft National Adaptation Plan
NZBA suggests this in its submission to the Ministry for the Environment on the Government’s Draft National Adaptation Plan (NAP). It also says the NAP could be more ambitious, and should include more detail to be more effective.
Responsible lending changes kick in, but banks doubt they will give mortgage lending a boost
“We believe that by working with government and organisations like FinCap, we can find a way to both protect vulnerable consumers from unscrupulous lenders and ensure a less restricted flow of credit to those who can afford it.”
Changes to credit laws not enough, critics say
“Our banks are telling me that approximately 10% of loans that would’ve been approved prior to December 1 are now being declined because of these regulations.”
KB Kookmin Bank joins New Zealand Bankers’ Association
KB Kookmin Bank Auckland Branch today became a member of the New Zealand Bankers’ Association, bringing the total number of member banks to 18. New Zealand Bankers’ Association chief executive Roger Beaumont says: “We are delighted to welcome Kookmin Bank to the Bankers’ Association. Joining NZBA shows the Korean bank’s commitment to New Zealand and… Read more »
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