Westpac wants more material credit law changes

Westpac wants more material credit law changes
Chief executive Catherine McGrath said each home loan is taking longer since the changes. (Image: Getty)
Jenny Ruth
Westpac New Zealand thinks the changes the government is proposing to make to the Credit Contracts and Consumer Finance Act (CCCFA) are just tweaks and that much broader changes are required."Whilst we welcome the direction of travel, we don't think it's going far enough," chief executive Catherine McGrath told BusinessDesk.A "one-size-fits-all" policy, such as the CCCFA, isn't the best way of ensuring customers can afford their loans, McGrath said.Westpac is "completely behind the spirit of the act", t...

More Finance

Fast-food chain float could give Fonterra a steer
Finance

Brian Robins: Fast-food chain float could give Fonterra a steer

After a dearth of IPOs, all eyes are on Guzman y Gomez. 

Brian Robins 20 Jun 2024
Whineray appointed new Jarden chair
Finance

Whineray appointed new Jarden chair

Fraser Whineray quit as Fonterra's chief operating officer in July 2023.

Murray Jones 19 Jun 2024
Bluebird improves profits after investment in Wiri site
Finance

Bluebird improves profits after investment in Wiri site

Bluebird Foods NZ has posted a profit of $13.2m for the year ended December 2023.

Staff reporters 18 Jun 2024