Media Appearances
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Media Appearances
Media Appearances
Good Returns - CCCFA changes need to go further – Bankers Association
- The Bankers Association welcomes changes announced last week to the Credit Contracts and Consumer Finance Act (CCCFA) but says they do not go far enough.
Media Appearances
NZ Adviser - Government tweaks controversial CCCFA lending laws
- Roger Beaumont, chief executive of the New Zealand Bankers’ Association, said that while the government “identified some of the main pain points for consumers,” ’it is “not clear the changes … will move the dial enough to make a difference.”
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Interest.co.nz - NZ Bankers’ Association argues there’d be ‘real risk of adverse customer impact’ if the RBNZ introduces a debt-to-income ratio cap for home loan borrowers
- “We suggest that the RBNZ waits to assess the impact of LVRs and the CCCFA changes before further developing the framework for DTIs.”
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Bloomberg - New Zealand Banks Urge RBNZ to Delay New Lending Restrictions
- “The combination of LVR restrictions, CCCFA changes, increasing interest rates and taxation changes in particular appear to be having the effect of slowing growth in the home-lending market,” the Association said in its submission. These changes “may have resolved the problem that DTIs would be designed to address,” it said.
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Interest.co.nz - Opinion divided over how much more easily borrowers will be able to access credit under proposed changes to the CCCFA
- “We’d like to see the new rules work in a way that doesn’t restrict access to responsible lending for consumers who can afford it, while ensuring vulnerable consumers are protected from high-cost credit that may not suit their circumstances,” NZBA CEO Roger Beaumont said.
Media Appearances
Newstalk ZB - NZ Bankers Association: Changes to CCCFA will help, but it could still be improved
- NZ Bankers Association’s Roger Beaumont told Andrew Dickens they’ll help, but the law could still be improved. “I would describe them as a small step in the right direction. There’s a lot more heavy lifting that needs to go on in terms of getting into the detail of these regulations.”
Media Appearances
NZ Herald - Government’s controversial home lending rules: Minister David Clark announces tweaks less than four months after law change
- “We’d like to see the new rules work in a way that doesn’t restrict access to responsible lending for consumers who can afford it, while ensuring vulnerable consumers are protected from high-cost credit that may not suit their circumstances. These changes maintain the one-size fits all approach that hasn’t worked so far.”
Media Appearances
Stuff - Commerce minister promises to change controversial lending laws, but National says ‘tweaks’ not enough
- Roger Beaumont, NZBA chief executive, said: “We think they’ve identified some of the main pain points for consumers, but it’s not clear the changes announced today will move the dial enough to make a difference.
Media Appearances