- A Government review of the industry last year found no widespread issues. “On top of that, bankers have also removed or in the process of removing all sales incentives for their staff, and that will be in place later this year for all the major banks that took part in that review.”
- Giving the RBNZ additional policy objectives which are similar to those of other agencies may complicate the regulatory landscape and result in overlap with the objectives of other regulators.
- If you suspect an invoice scam you should phone or visit the merchant or service provider to confirm the payment details are right and that you are paying the person you think they are.
- The individual work plans for each bank have all been signed off at the highest level. That means there is buy-in from the very top of these financial institutions to make sure they’re meeting regulator and public expectations.
- All banks with sales incentives have committed to remove or address them for frontline salespeople and their managers, with some having already removed sales incentives.
- New Zealand Bankers’ Association members have committed $1 million to the Our People, Our City Fund, which will meet the immediate and long term needs of the families most directly affected.
- The New Zealand banking industry has donated $1 million to those affected by the 15 March shooting in Christchurch that claimed the lives of 50 people.
