Author: Philip vanDyk

Bank customers managing debt well

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46% of people with a home loan are ahead on their repayments while two thirds pay off their credit card every month.

Bank customers continue to manage home loans and credit cards well in challenging times

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At a time of rising costs, consumers are continuing to manage their credit cards and home loans well according to data insights released by the New Zealand Bankers’ Association today. “In these challenging times it’s great to see people using banking products and services to help stay ahead financially,” says New Zealand Bankers’ Association chief… Read more »

Bank payouts to wronged customers top $109 million in four years

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“In that time, as the FMA says, banks have worked hard to improve their internal conduct processes and proactively identify any issues and remediate them. Banks are also highly engaged in the new conduct regulation for financial institutions being developed by the government.”

Retailers to save $74m with contactless fee changes

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“Banks operate in a highly regulated environment and take their compliance obligations very seriously, including this cap. We can’t comment on competitive issues, including pricing and the products and services offered by our member banks.”

More areas to fix in CCCFA changes – bank execs

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“Banks have no flexibility to extend credit to customers without a full affordability assessment, which customers are more likely to fail when facing financial difficulty.”