Author: Philip vanDyk

“Any decisions about new customers are based on the bank’s own policies and risk appetite, alongside their regulatory and legal obligations.”

“The banking industry has engaged with the current CCCFA reforms every step of the way,” chief executive Roger Beaumont said.

“Banks also operate in a competitive market and work hard to attract and retain customers,” chief executive Roger Beaumont said. We’d encourage merchants concerned about their fees to talk to their bank.”

Meanwhile, the Bankers Association had launched a “take a sec to check” campaign, to alert people about how to prevent getting scammed online.

“We’re encouraging everyone to take a moment before making a payment or giving away personal information, just to be sure it’s not a scam,” New Zealand Bankers’ Association chief executive Roger Beaumont said.

The Reserve Bank says it will review its Open Bank Resolution bank failure tool once the planned depositor compensation scheme is rolled out amid suggestions from the New Zealand Bankers’ Association that the OBR will remain the Reserve Bank’s primary resolution and depositor protection tool for large banks.