Media

NZ Herald - Budget 2022: Banks yet to get on board with $100m Business Growth Fund

May 20, 2022 - “Discussions with some banks on a potential Business Growth Fund are at a very early stage. No agreements or commitments to participate have yet been reached.”

Newstalk ZB - NZ Bankers’ Assn officially put in submission to Ministry calling for a more fulsome review of CCCFA

May 3, 2022 - ‘Not good enough’ is the summation of the Bankers’ Association when it comes to the Government’s tweaks on the CCCFA. Chief executive Roger Beaumont joined Mike Hosking.

Stuff - Banks: Proposed home loan changes still won’t help

May 2, 2022 - “The Government’s tweaks to the CCCFA lending rules announced in March are just a band aid. We don’t think the tweaks will make a big difference for most borrowers. That’s because most of the existing requirements remain in place, meaning customers will still have to provide detailed information about their spending, resulting in a more... Read more »

NZ Herald - Inflation, soaring interest rates could mean $200 in extra costs a week with $600k mortgage

April 22, 2022 - The New Zealand Bankers Association said 44 per cent of people with home loans were ahead and paying more than the minimum in repayments. About 1.2 million Kiwis currently had a mortgage.

NZ Herald - Mortgage lending drops by a third, customers afraid of loan rejection as banks enforce CCCFA rules

April 18, 2022 - “The new rules have a one-size-fits-all approach for all lenders and all loan types and values, which has seriously impacted people applying for home loans. The new rules require banks to collect and verify much more information from customers, and the prescriptive approach means banks don’t have the same discretion or flexibility they used to.”

NZ Herald - Trust in banks is being eroded, Consumer NZ says

April 13, 2022 - New Zealand Bankers’ Association chief executive Roger Beaumont said factors outside banks’ control such as the rising cost of living and the ongoing economic impact of Covid-19 had negatively affected consumer sentiment generally, and that in turn impacted how people feel about banks.

Stuff - Mortgagee sales hit 15-year low, but there’s a warning

April 12, 2022 - “Banks work closely with customers through a range of options before considering a mortgagee sale. Some people may choose to sell the property themselves before it gets to a mortgagee sale.”

Stuff - MBIE: Banks may be applying lending rules more strictly than intended

April 7, 2022 - New Zealand Bankers’ Association chief executive Roger Beaumont said it was looking at the proposed tweaks to the new lending rules and expected to make a submission on the current consultation.

NBR - New Zealand Bankers’ Association announces new chair and deputy chair

April 1, 2022 - ASB chief executive Vittoria Shortt has been elected chair of the New Zealand Bankers’ Association, and BNZ chief executive Dan Huggins was elected deputy chair.

Good Returns - Bank complaints rise

April 1, 2022 - “We’re not surprised the government’s new rules are making some customers unhappy, and our front line workers bear the brunt of that. It’s also not surprising they’re complaining to the Banking Ombudsman about it, even though we’re not responsible for the rule change,” Beaumont said.