The banking industry welcomes the first reading of the Credit Contracts and Consumer Finance Amendment Bill. This includes an important adjustment to limit the risk of excessive consequences for minor disclosure breaches. “We believe the change proposed in the amendment bill is fair as it simply tidies up the existing legislation to ensure that all… Read more »
Month: May 2025
Fixing faulty legislation, not protecting big banks, the goal of these law changes
It has been claimed that this change will extinguish the rights of thousands of customers in contravention of the rule of law – all to protect the interests of two large Australian-owned banks. This is not correct. No rights will be extinguished. Debtors will still be able to claim from lenders for non-compliance under the… Read more »
New Zealand banks unable to catch all mistaken transfers through human error
Roger Beaumont, chief executive of the New Zealand Banking Association, which represents the country’s banking industry, said the confirmation of payee services that had been adopted by domestic banks weren’t applied to international payments.
Discussion Document: Strengthening New Zealand’s emergency management legislation
National Emergency Management Agency
‘Rip-off’: App developer and Consumer say fees will stifle open banking and create roadblocks for start-ups
“In consultations with the Government, we have not expressed an industry view on API pricing because that’s ultimately a commercial matter for banks and third parties.”
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