- The Reserve Bank’s use of so-called macro-prudential tools to dampen a credit boom or bubble would ultimately see borrowers paying their banks higher loan rates, analysis commissioned by the New Zealand Bankers’ Association says.
- Bankers’ association chief executive Kirk Hope said banks were never the target of the measures contained in the bill, which was aimed at reining in abusive loan sharks and dodgy debt collectors. “The most vulnerable consumers could be protected by enforcing the existing laws,” he said.
- “Banks have worked really hard and have involved people like Writemark in the development of their product material,” Hope said. They also all have programmes to lift financial literacy among customers, and people in the community.
- Hope said that it was wrong to assume all high LVR borrowers were on comparatively low incomes; it might reflect a relatively high income and capacity to service the loan.
- Bankers Association chief executive Kirk Hope said the latest International Monetary Fund report on New Zealand pointed out the strength and stability of our banking system, and it was not helpful to compare it with Cyprus.
- Kirk Hope, chief executive of the New Zealand Bankers’ Association, says the Fair Play on Fees campaign is misleading people and questions their figures.
- NZ Bankers Association chief executive Kirk Hope talks to Mike Hosking about the news NZ’s biggest banks are being sued using class action for a collective $1 billion.
- “Our banks communicate very clearly on fees, which is a reflection of our very competitive banking sector. The fees being singled out are avoidable, and our industry has also made it easy for customers to switch banks if they feel the fees they’re paying are too high,” New Zealand Bankers’ Association chief executive Kirk Hope... Read more »
- Responding to news of the launch of the “Fair Play on Fees” action, bank lobby group the New Zealand Bankers’ Association said talk of legal action failed to take into account differences between the New Zealand and Australian banking sectors.
