Credit rule changes won't make much difference: NZBA

Staff reporters
Thu, 09 Jun 2022

Changes to the Responsible Lending Code and the regulations associated with the Credit Contracts and Consumer Finance Act (CCCFA) won’t make much difference for most people seeking credit, says the New Zealand Bankers' Association.The changes were a response to the industry outcry over amendments to the CCCFA which came into force from Dec 1 last year and have led to a marked slowdown in lending.Reserve Bank data shows there was a net $1.38 billion in new mortgages loaned in April, down from the $2.96b loaned in April last year.&ldquo...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets market close
NZ sharemarket rebounds with Wall Street rally
Dan Brunskill | Mon, 27 Jun 2022

US markets rallied on Friday night as traders began thinking an economic slowdown would stop the US Federal Reserve from hiking interest rates.

Policy
Political donations over $5k to require declaration
Staff reporters | Mon, 27 Jun 2022

The changes require disclosure of donor identities for any party donations over $5,000 versus the current $15,000. 

Law & Regulation
Public class action fund needed: Law Com
Victoria Young | Mon, 27 Jun 2022

The Law Commission has finalised its report into class actions and litigation funding.

Sponsored
Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.

Sponsored
High water marks: Watercare raises the tide on sustainability

The No.1 barrier to decarbonisation for NZ organisations is accurate measurement, says Microsoft’s Accelerating the Journey to Net Zero report.