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Hundreds of thousands of New Zealanders will be significantly better off in retirement following changes to the default KiwiSaver scheme, Finance Minister Grant Robertson and Commerce and Consumer Affairs Minister David Clark said today (14 MAY 2021).
Commerce and Consumer Affairs Minister David Clark has today announced the Government’s next steps to reduce merchant service fees, that banks charge businesses when customers use a credit or debit card to pay, which is estimated to save New Zealand businesses approximately $74 million each year.
Commerce and Consumer Affairs Minister David Clark says Aotearoa New Zealand has become the first country in the world to introduce a law that requires the financial sector to disclose the impacts of climate change on their business and explain how they will manage climate-related risks and opportunities.
“The Government has today announced the list of life-shortening congenital conditions that will guarantee early withdrawal under a new KiwiSaver category created last year,” Commerce and Consumer Affairs Minister David Clark said.
The Minister released that the Government is moving ahead with plans to regulate the bank payment system to make merchant service fees on debit and credit card fees fairer and less of a burden for Kiwis and businesses.
The New Zealand Government announced additional funding being made available to strengthen existing debt solution services with access to debt specialists, and develop a national approach to address problem debt Minister for Social Development Carmel Sepuloni and Minister for Commerce and Consumer Affairs Hon Kris Faafoi announced today.
Clear requirements for ensuring customers are treated fairly by banks, insurers and other financial service providers are included in new financial conduct legislation that passed its first reading today.