Month: September 2022

More areas to fix in CCCFA changes – bank execs

“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.”

Govt declines to free up emergency lending in CCCFA changes

New Zealand Bankers’ Association chief executive Roger Beaumont says banks can no longer help customers who might need a low-interest loan for an emergency, and the Government did not address this issue in its recent announcement on further changes to the Act.

Property investors told to repay debts

New Zealand Bankers’ Association chief executive Roger Beaumont said lending policies and risk appetite would vary from bank to bank and could change over time. “In applying those policies, banks will look at a borrower’s particular circumstances, including their debt levels, security, and ability to repay any loans.”