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Interest.co.nz - As the RBNZ mulls developing a central bank digital currency, the NZ Bankers’ Association queries what public policy problem one would address

February 15, 2022 - “We note that some central banks, most notably the Federal Reserve, have suggested that CBDC’s may be a ‘solution looking for a problem,’ and that even where there are problems in the payment system, there are more effective means to resolve them than a CBDC,” NZBA said.

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NZ Herald - Credit crunch or responsible lending? Has the law gone too far?

February 4, 2022 - Clark has already pointed the finger at the banks, hinting that they may not have been complying with responsible lending obligations before the changes came in. However in a statement this week, the New Zealand Bankers’ Association said it did not know what Clark was referring to.

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Otago Daily Times - Minister stands by lending rules, says he will listen

February 2, 2022 - “Banks take their obligations to comply with the law very seriously. That was the case before the rule change and remains the case.”

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Newstalk ZB - Roger Beaumont: Banks are taking the lending rules seriously

February 1, 2022 - Clark said banks weren’t adhering to responsible lending rules before new legislation came in last year. The Bankers Association’s Roger Beaumont told Heather du Plessis-Allan Clark’s not correct.

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Stuff - Banks deny minister’s irresponsible lending accusation

February 1, 2022 - “We’ve made several submissions on the CCCFA law change and new regulations since 2018. In our submissions we’ve set out our concerns all along the way. The investigation might be able to clarify some of those concerns and hopefully identify some useful solutions.”

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NZ Herald - Lending probe: David Clark hints banks not following the rules

February 1, 2022 - “The suggestion that banks were not complying with their responsible lending obligations before the latest CCCFA changes comes as a surprise. Banks are simply complying with the new rules as they are written.

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TVNZ - Details of review into tough new lending rules revealed

January 31, 2022 - “Banks are in the business of lending, it’s fundamental to what they do, they want to be able to lend to customers but they’re not going to do that if it risks breaching their regulatory obligations because the consequences for that are really serious.”

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The Spinoff - Our new lending rules have everyone confused. What went wrong?

January 24, 2022 - “The law change has made banks’ ability to lend less flexible,” says New Zealand Bankers Association CEO Roger Beaumont.

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Stuff - ‘Shocking business practice’: Would you give a loan company your bank password?

January 22, 2022 - New Zealand Bankers’ Association chief executive Roger Beaumont said bank terms and conditions generally include not sharing your bank account access details with anyone else.

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Good Returns - Advisers inundated with policy changes by banks

January 19, 2022 - Some advisers have also complained of too many different systems from different banks, meaning the multiple changes come in many different forms, depending on which bank they are dealing with. But the NZBA says there cannot be a uniform approach across the banking sector for competition reasons.

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