Author: Philip vanDyk

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 »

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.