Media

NZ Herald - Covid 19 coronavirus: Ombudsman prepares for onslaught of banking complaints

June 15, 2020 - A survey by the New Zealand Bankers’ Association last month found New Zealanders’ broadly positive attitude towards the banks had increased slightly but not significantly and this had been spurred by the introduction of the six monthly mortgage deferral scheme.

Stuff - Rates are under 3%, so why do banks still check you can pay 7%?

June 14, 2020 - “These serviceability rates are reviewed from time to time in line with what’s going on in the market. These rates will vary from bank to bank depending on a number of factors including their particular risk appetite and exposure to certain types of lending. Ultimately it’s all about lending responsibly and doing the right thing... Read more »

Regulation Asia - New Zealand’s New Conduct Regime Not Adequately Developed

June 13, 2020 - “It is critical to allow the time to ensure that the legislation and regulations are workable and proportionately address the identified issues, and that financial institutions and their intermediaries have sufficient time to ensure compliance with whatever is set as the final regime.”

NZ Herald - Bank and insurance licensing law change doesn’t go far enough, Consumer says

June 10, 2020 - In its submission the New Zealand Bankers Association’s deputy chief executive and general counsel Antony Buick-Constable said while it supported the underpinning policy goal of the bill – to treat consumers fairly through the lifecycle of financial products – the bill itself needed significant refinement to ensure a clear framework was developed.

Stuff - IRD’s Small Business Cashflow Loan Scheme lends more than $1.3 billion

June 10, 2020 - Roger Beaumont, chief executive of the New Zealand Bankers’ Association (NZBA) expected an increase in loans made by banks under the guarantee scheme in the coming weeks. “As people get through the immediate survival period, they will be able to think about their longer term position.”

NZ Herald - RBNZ bank capital proposals slammed in advice to minister

June 9, 2020 - His analysis is similar to other criticisms of the RBNZ’s proposals and the supporting research, including analysis by former Treasury Secretary Graham Scott on behalf of the NZ Bankers’ Association and former RBNZ official Ian Harrison.

NZ Herald - Kiwis reveal their biggest financial worries

June 8, 2020 - Of those surveyed 62 per cent had a positive attitude towards banks, up two percentage points on the February research and 17 per cent were negative down four percentage points. Those who described the banks as helpful pointed to the mortgage deferral scheme and good communication from the banks.

Stuff - Why mortgage holidays are a windfall for banks, who could net up to $100m

June 6, 2020 - “It’s important to note that banks continue to provide credit through the deferral period while the customer has the peace of mind of not having to repay interest or principal.”

Stuff - Elderly woman used friend’s ATM card to steal thousands

June 3, 2020 - New Zealand Bankers’ Association chief executive Roger Beaumont​ said generally, financial elder abuse included wrongful use of older people’s money, property and other assets.

Stuff - Why don’t credit card rates fall when home loan rates do?

May 30, 2020 - New Zealand Bankers’ Association chief executive Roger Beaumont said the rates were higher because the loans were unsecured – there is no house or car for the bank to sell to recover debt if you stop paying.