- The Bankers’ Association is seeking to create a database of house insurance contracts to allow mortgage lenders to keep tabs on whether borrowers are keeping their homes adequately insured.
- The banking industry is warning customers to be alert to a phishing scam capitalising on publicity around the legal action on bank fees. A class action against banks in Australia has seen a large number of customers targeted by fraudsters claiming to be from their bank. Typically, fraudsters inform customers that for a small payment... Read more »
- All New Zealand banks are now required to comply with the new anti-money laundering regime, which came into force on 30 June. Under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 all New Zealand banks have additional obligations to check customer identity and, in some cases, account activity. “The new regime applies to... Read more »
- Hope said there was a risk that in capping the amount of lending done over the 80 per cent threshold it could spark third tier lenders to emerge and lend money on an unsecured basis.
- In response to legal action on bank fees announced today the New Zealand Bankers’ Association said it expected the case to be vigorously defended. “Fees of this nature are usually avoidable. Customers concerned about their fees should talk to their bank to make sure they have the accounts and products that suit their needs,” said... Read more »
- Be on guard against financial crime that targets seniors said the New Zealand Bankers’ Association today as Fraud Awareness Week 2013 was launched. “Banks take all fraud very seriously, and fraudsters who prey on vulnerable people are particularly concerning,” said New Zealand Bankers’ Association chief executive Kirk Hope. “Banks have systems to help detect and... Read more »
- The New Zealand Bankers’ Association today congratulated Diane Maxwell on her appointment as Retirement Commissioner. “We have been working closely with Diane in her interim capacity and are pleased to see her confirmed in the permanent role of Retirement Commissioner,” said New Zealand Bankers’ Association chief executive Kirk Hope. “Diane’s banking and regulatory background will... Read more »
- Kirk Hope was appointed the head of lobby group the Bankers’ Association last year, so you’d expect him to have a better grip on his finances than the average New Zealander.
- “One relevant factor in this discussion is whether it’s justifiable for farms as businesses to be treated differently from other businesses that find themselves in financial difficulty. Any proposal for a special mediation service for farms would need to provide a good rationale for establishing a sector-specific service,” Kirk Hope said.
- New Zealand’s banking sector has spent roughly $90 million getting ready for a new anti-money laundering and terrorism financing law which kicks in at the end of next month.
