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CCCFA Affordability Assessment Regulatory Changes

July 31 @ 10:00 am - 11:00 am NZST

CCCFA Affordability Assessment Regulatory Changes

The Responsible Lending Code has been amended to remove some of the barriers that consumers have faced when trying to access credit. The new code comes into force on the 31 July – the day of our webinar.

The changes have resulted in the revocation of the highly prescriptive affordability tests. Lenders must still meet their Lender Responsibility Principle obligation which is to ensure that borrowers can make their repayments under the credit contract without suffering substantial hardship.

The guidance on how they do this is outlined in the code.

Join Hamish Patel, Chair, Lending Member Advisory Committee and Lyn McMorran, Executive Director, Financial Services Federation to hear more about these changes, what they mean for financial advisers working in the consumer credit market including financial and mortgage advisers and what the impact will be on New Zealanders’ access to credit.

Lyn was previously Commissioner for the Insurance and Financial Services Ombudsman disputes resolution scheme and past-President of the Australasian Society of Association Executives and a past President of the Institute of Financial Advisers.  She is currently a member of the Ministry for Women’s National Advisory Council on the Employment of Women.

Members: Complimentary. Non-members: $50 + gst

 

Details

Date:
July 31
Time:
10:00 am - 11:00 am