BNPL providers will be required to conduct affordability checks on customers above a proposed value of NZD 600.
November 9, 2022Borrowers will not be considered in default if they repay 25 percent of their loan instalments until December this year.
September 2, 2021The guidance APG 220 is published in advance of finalising the standard APS 220, which is contingent on potential changes to consumer credit laws.
August 21, 2021Banks are continuing to work with borrowers who still need help to get back on track, says NZBA chief executive Roger Beaumont.
April 5, 2021Amendments, including an earlier implementation date, will be necessary if the government’s proposed consumer credit reforms are passed as legislation.
December 9, 2020APRA has found a number of banks not in compliance with its prudential standard on securitisation. A review now underway will continue into 2021.
December 7, 2020The move comes after hundreds of vulnerable debtors who have had their homes put at risk in bankruptcy court this year over relatively small debts.
November 22, 2019