Banking and finance updates

COVID-19 in the community 2.0 – legislative responses
10 Sep 21

MBIE has advised that the Government has decided to implement a range of temporary measures across Commerce and Consumer Affairs legislation that respond to the disruption and uncertainty caused by the re-emergence of COVID-19 in the community in New Zealand. These measures, which will be ...

Lender update: Consumer relief and lender guidance in light of COVID-19
23 Apr 20

Parliament has recently implemented exemption regulations to provide for consumer mortgage relief in certain situations The Credit Contracts and Consumer Finance (Exemptions for COVID-19) Amendment Regulations 2020 (Amendment Regulations) were passed by Parliament on 31 March 2020 and came into force on 1 April 2020. ...

Consumer credit law changes and their impact on lenders
29 Jan 20

The Credit Contracts Legislation Amendment Bill that we reported on last year has now been passed into law. The Credit Contracts Legislation Amendment Act 2019 was passed in December 2019.  The Act sets out a number of changes to the Credit Contracts and Consumer Finance ...

Consumer credit law changes now before Parliament
16 Apr 19

The Government has just introduced the Credit Contracts Legislation Amendment Bill to amend consumer credit laws. When the proposed changes were announced last year they were announced as being aimed at loan sharks and mobile lenders, to protect vulnerable borrowers from harmful debt spirals. However, ...

For more information contact:

Richard Greenaway