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Finance

21 Oct 2021

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Departing financial watchdog Everett proud of laws requiring fair treatment of customers by banks and insurers
Outgoing financial watchdog Rob Everett took on banks and won.

Should banks be forced by law to supply cash to customers?
Reserve Bank ponders options to keep cash circulating as banks shut branches/ATMs.

ANZ and ASB face multimillion-dollar class action lawsuit over lending failures
Banks sued for 'multimillions' after admitting lending law breaches.

Kiwibank app, online banking out of action again: 'Changing banks soon as I can'
Bank has been battling 'intermittent issues' for weeks.

Credit card repayment insurance warning: 200,000 people with 'poor value' cover
Watchdog warns over 'poor value' credit card repayment insurance sold by banks.

Monthly mortgage lending of $8 billion drives banks' $1.45b profit
'Bank of mum and dad' bolsters first-home buyer sales, KPMG report indicates.

Banks hike interest rates despite lockdown in Auckland
Three banks increase home loan rates, with a warning the Reserve Bank will be itching to act, too.

Sharemarket falls as investors fret over central banks tapering
Central banks around the world are starting to slow down their bond-buying programmes, taking the wind out of confidence for some investors.

There's something wrong when we're feeding the world, but our own people go hungry
OPINION: There's something wrong when supermarkets make big profits while demand for food banks soars.

BNZ, ANZ and Kiwibank waive contactless payment fees
The banks will not charge small and medium-sized businesses for contactless payments.

BNZ and Kiwibank waive contactless payment fees until end of October
Banks won't charge small and medium-sized businesses for contactless payments.

Banks: Call us, if you are under financial pressure
Some banks keep limited branches open for vulnerable people.

Why your financial habits are about to matter more than ever
OPINION: If you want to borrow money, banks will listen to the tales your bank statements tell and not just look at how much you earn.

Class action launched against ASB and ANZ banks
A multi-million dollar class action lawsuit has been launched against the ANZ and ASB banks over claims they failed to fully refund around 150,000 customers for fees and interest earned on loans in which there were disclosure breaches.The...

RBNZ clamps down further on low-deposit home lending
Low deposit home loan borrowers will find it even tougher from November when the Reserve Bank will tighten loan-to-value ratios again.From November 1, only 10 per cent of banks' lending can be to owner-occupiers with a deposit or...

Strong quarter for bank profits but lockdown brings uncertainty
Profits at New Zealand's banks were strong in the June quarter but the Covid-19 lockdown has added new uncertainty.The banks collectively made $1.452 billion in the three months to June, according to KPMG's latest Financial Institutions...

When is it time to take away the punch bowl?
OPINION: Consumer spend has not retreated during lockdown due to any lack of willingness, and the sugar rush looks set to continue. So when do central banks start taking away the punch bowl?

Banks, NZ Post among sites hit by DDoS attack
Websites began to crash shortly before 9am on Wednesday.

Outages hit online services at banks, NZ Post
Hundreds of users reported problems on Wednesday morning.

No Govt holiday scheme but banks offer help to struggling borrowers
This lockdown there is no official holiday scheme for people with home loans, but banks want struggling customers to contact them.

Westpac and ASB first banks to announce alert level 4 branch opening hours
Some branches will open for urgent 'critical' banking only, banks say.