Office of the Privacy Commissioner – Te Mana Mātāpono Matatapu
Month: June 2024
Consultation Draft: Self-reporting guidance for lenders
Commerce Commission
More ratepayer distress as QLDC makes claims on 594 personal bank accounts
“In this case, it appears the local authority is exercising its power under the Local Government (Rating) Act 2002 to collect the rates due. Banks take their obligations to comply with the law very seriously.”
Bank inquiry takes NZ down risky road, expert says
The NZ Banking Association argues higher rates for farmers can be attributed to Reserve Bank rules requiring its members to hold more capital to insulate against losses from riskier rural loans.
Discussion Document: Fit for purpose financial services reform (dispute resolution)
Ministry of Business, Innovation and Employment
Discussion Documents: Fit for purpose financial services reform (consumer credit and conduct)
Ministry of Business, Innovation and Employment
Privacy Amendment Bill
Justice Select Committee
Rural banking inquiry a good opportunity, ASB says
The NZ Banking Association, in its submission to the select committee, said farms were a business so “inherently riskier” than a home loan as risk and price was based on the ability to repay the loan if something goes wrong.
Bank bosses to be called to account for profits in front of MPs
Banking Association chief executive officer said banks had “nothing to hide”. “We’re a very open and transparent industry, it’s partly because we’re so heavily regulated, we’re happy to be open and transparent.”
When is your bank liable for scam losses?
In response, the New Zealand Banking Association said it would review international best practice in this area by September 2024 and consider updating the current approach in the Code of Banking Practice.
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