- The Bankers’ Association chief executive Kirk Hope said New Zealand banks have no choice but to comply with the US law, but take confidentiality of client’s information very seriously.
- New Zealand Bankers’ Association chief executive Kirk Hope said it was impossible for New Zealand companies to comply with Fatca without the agreement, because under current law they aren’t allowed to provide information to overseas tax departments.
- The banks argue that they are already responsible lenders and that the law changes should be targeted at loan sharks and lower tier lenders rather than them.
- Banking industry body the New Zealand Bankers’ Association said the union’s claims “undermine the great work that frontline staff do in engaging with customers”.
- “We strongly recommend against using public computers and public Wi-Fi for internet banking,” said Bankers’ Association regulatory director Karen Scott-Howman.
