BNPL providers will be required to conduct affordability checks on customers above a proposed value of NZD 600.
November 9, 2022This is the second tranche of changes to the CCCFA regulations, which have been criticised for making it too difficult for borrowers to obtain loans.
August 9, 2022Responsible lending laws introduced in December have been blamed for causing tighter credit conditions for New Zealand borrowers.
June 17, 2022The new rules, introduced in December, were designed to protect the vulnerable but are making it more difficult for borrowers to obtain loans.
March 16, 2022The government has asked the Council of Financial Regulators to bring forward an investigation into whether lenders are implementing the new lending rules as intended.
January 21, 2022