Ministry of Business, Innovation and Employment
Month: July 2023
Auckland woman’s warning to homeowners after losing property in mortgagee sale
Roger Beaumont from the New Zealand Banking Association says mortgagee sales should be a last resort. “More often than not, these situations occur when there has been a breakdown in communication,” he told Newshub.
Banks launch three new hubs in regional banking trial
Three new regional banking hubs will open from this week as part of the latest phase of the regional banking hub trial led by the country’s six biggest retail banks. The three new hubs will be in Waimate, Whangamatā and Ōpōtiki. The Waimate hub will open its doors this Friday, with the remaining hubs opening… Read more »
Exposure Draft: Financial Markets Conduct (Climate-related Disclosures) Amendment Regulations 2023
Ministry of Business, Innovation and Employment
Prisoners paying a double price for their crimes, report suggests, as some struggle to get money lives on track
The New Zealand Banking Association Te Rangapū Pēke said banks would be likely to support government initiatives as long as they didn’t compromise banks’ anti-money laundering obligations.
Scams: Should your bank be liable for losses?
NZBA chief executive Roger Beaumont believes that broadening the Code of Banking Practice to cover APP scams would mean “banks take on all or most of the risk of customer decisions, meaning customers have little incentive or responsibility to protect their money. This could lead to much greater fraud losses.”
Scams: Should your bank be liable for losses?
NZBA chief executive Roger Beaumont believes that broadening the Code of Banking Practice to cover APP scams would mean “banks take on all or most of the risk of customer decisions, meaning customers have little incentive or responsibility to protect their money. This could lead to much greater fraud losses.”
Consultation Paper: Cyber Resilience Data Collection Proposals
Reserve Bank of New Zealand
Digital disruptor Revolut takes a swipe a high profits of ‘legacy’ banks
But it is not a member of the Banking Association Te Rangapū Pekē, whose member banks promise to reimburse fraud losses for customers who were not dishonest or negligent, complied with their banks’ terms and conditions for electronic banking or card use, and took reasonable steps to protect their banking.
Commerce Commission should probe ‘stubbornly’ high remittance costs
“The Commerce Commission will determine the scope of the market study. Banks are open and transparent and will participate fully in the areas the Commission wishes to look at.”
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