The new lending legislation seems like it will be a net positive for the banks.

As part of the CCCFA reforms the Financial Markets Authority is set to become a one-stop regulatory shop, looking after licences to ensure consumers are taken care of.

Banking Association CEO Roger Beaumont told Mike Hosking that while there will likely be minimal impact for customers, there will be definite improvements on the bank’s side.

He said that one of the key changes is that the “draconian” personal liability legislation for managers and banks will be removed.

Beaumont says the devil is in the detail, of which there hasn’t been much yet, but anything that simplifies and clarifies monitoring in the sector is a good thing.

LISTEN ABOVE

The new lending legislation seems like it will be a net positive for the banks.
As part of the CCCFA reforms the Financial Markets Authority is set to become a one-stop regulatory shop, looking after licences to ensure consumers are taken care of. 
Banking Association CEO Roger Beaumont told Mike Hosking that while there will likely be minimal impact for customers, there will be definite improvements on the bank’s side. 
He said that one of the key changes is that the “draconian” personal liability legislation for managers and banks will be removed. 
Beaumont says the devil is in the detail, of which there hasn’t been much yet, but anything that simplifies and clarifies monitoring in the sector is a good thing. 
LISTEN ABOVE

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more.

The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

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