Bayly
Bayly is a prominent figure in New Zealand's banking and finance sector, known for his role in legislative changes affecting consumer finance laws. He has been at the forefront of discussions regarding the Credit Contracts and Consumer Finance Amendment Bill, which aims to address issues arising from class action lawsuits against major banks like ASB and ANZ. His advocacy for proportionate penalties in cases of legal breaches has sparked significant debate, particularly concerning retrospective law changes that might impact borrowers and financial stability.
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Bayly’s successor, Scott Simpson, took the banks’ request on board.
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