Month: July 2024

Banks welcome lending regulation changes

“Removing the overly prescriptive regulations and updating the Responsible Lending Code will help bring back flexibility and discretion for banks to help customers,” Beaumont said.

Banks welcome removal of consumer lending regulations

The banking industry welcomes the government’s removal of affordability regulations under the Credit Contracts and Consumer Finance Act, and update of the Responsible Lending Code, to help improve access to lending. New Zealand Banking Association chief executive Roger Beaumont says: “We are pleased to see the removal of overly prescriptive affordability assessments. This will help… Read more »