NZ Bank Victims

Westpac payout 'abysmal' - farmer advocate

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Westpac has joined ANZ and ASB banks in reaching an out of court settlement with the Commerce Commission - paying out for the way it sold 'interest rate swaps' to rural customers.

Questions plague swaps scandal

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SCOTT HAMMOND/Fairfax NZ Jeanette Walker, who exposed the swaps scandal, says farmers deserve to know the full story.

The Commerce Commission made no effort to discover ANZ's motives for selling interest rate swaps to farmers, leading to a suggestion the regulator "wimped out".

Westpac and BNZ to be served court papers in 'unfair fees' case

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The Fair Play on Fees group yesterday confirmed it would lodge documents in the High Court to begin legal action against Westpac and BNZ for what it believes to be unfair exception fees. Photo / File

Two of New Zealand's largest banks will this week be served court papers over claims they charged more than 41,600 customers unfair penalty fees.

Credit card stoush ramps up

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Westpac and the Bank of New Zealand will officially face legal action on Wednesday over millions of dollars of allegedly unfair penalty fees.

Westpac faces court in test case

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Westpac is alleged to have sold interest rate swaps to businesses despite knowing a likely fall in interest rates would leave its customers facing losses, the courts have heard.

NZ banking sweet spot may not last: PwC

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NEW Zealand's big banks have hit a sweet spot of solid growth in household and corporate lending but it may not last, a report by PwC says.

Loan shark law welcomed

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The New Zealand Bankers’ Association has welcomed the third reading of the Credit Contracts and Financial Services Law Reform Bill in Parliament last night.

Banks will need to tread carefully if the RBNZ removes LVR restrictions on home loans, new BNZ CEO Anthony Healy says

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Banks will have to be careful if the Reserve Bank removes restrictions on their high loan-to-value ratio (LVR) residential mortgage lending, says new BNZ CEO Anthony Healy, or the regulator may quickly reintroduce them.

Farmers get deadline over interest rate swaps

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The Commerce Commission says farmers concerned about the way their interest rate swaps were sold to them have until the end of the month to contact the regulator otherwise they may miss out on future compensation claims.

Impact from anti-money laundering legislation, bank fees class action, and RBNZ LVR restrictions felt in growth of bank customer complaints

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Anti-money laundering legislation, bank fees class action, and the Reserve Bank's restrictions on banks' high loan-to-value ratio (LVR) home loans are the reasons behind a decent chunk of the increasing number of bank customers turning to the Banking Ombudsman.

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NZ Bank Victims

Westpac payout 'abysmal' - farmer advocate

Westpac has joined ANZ and ASB banks in reaching an out of court settlement with the Commerce Commission - paying out for the way it sold 'interest rate swaps' to rural customers.

Questions plague swaps scandal

The Commerce Commission made no effort to discover ANZ's motives for selling interest rate swaps to farmers, leading to a suggestion the regulator "wimped out".

Westpac and BNZ to be served court papers in 'unfair fees' case

Two of New Zealand's largest banks will this week be served court papers over claims they charged more than 41,600 customers unfair penalty fees.

Credit card stoush ramps up

Westpac and the Bank of New Zealand will officially face legal action on Wednesday over millions of dollars of allegedly unfair penalty fees.

Westpac faces court in test case

Westpac is alleged to have sold interest rate swaps to businesses despite knowing a likely fall in interest rates would leave its customers facing losses, the courts have heard.

NZ banking sweet spot may not last: PwC

NEW Zealand's big banks have hit a sweet spot of solid growth in household and corporate lending but it may not last, a report by PwC says.

Loan shark law welcomed

The New Zealand Bankers’ Association has welcomed the third reading of the Credit Contracts and Financial Services Law Reform Bill in Parliament last night.

Banks will need to tread carefully if the RBNZ removes LVR restrictions on home loans, new BNZ CEO Anthony Healy says

Banks will have to be careful if the Reserve Bank removes restrictions on their high loan-to-value ratio (LVR) residential mortgage lending, says new BNZ CEO Anthony Healy, or the regulator may quickly reintroduce them.

Farmers get deadline over interest rate swaps

The Commerce Commission says farmers concerned about the way their interest rate swaps were sold to them have until the end of the month to contact the regulator otherwise they may miss out on future compensation claims.

Impact from anti-money laundering legislation, bank fees class action, and RBNZ LVR restrictions felt in growth of bank customer complaints

Anti-money laundering legislation, bank fees class action, and the Reserve Bank's restrictions on banks' high loan-to-value ratio (LVR) home loans are the reasons behind a decent chunk of the increasing number of bank customers turning to the Banking Ombudsman.

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NZ Bank Victims

Westpac has joined ANZ and ASB banks in reaching an out of court settlement with the Commerce Commission - paying out for the way it sold 'interest rate swaps' to rural customers.

The Commerce Commission made no effort to discover ANZ's motives for selling interest rate swaps to farmers, leading to a suggestion the regulator "wimped out".

Two of New Zealand's largest banks will this week be served court papers over claims they charged more than 41,600 customers unfair penalty fees.

Westpac and the Bank of New Zealand will officially face legal action on Wednesday over millions of dollars of allegedly unfair penalty fees.

Westpac is alleged to have sold interest rate swaps to businesses despite knowing a likely fall in interest rates would leave its customers facing losses, the courts have heard.

NEW Zealand's big banks have hit a sweet spot of solid growth in household and corporate lending but it may not last, a report by PwC says.

The New Zealand Bankers’ Association has welcomed the third reading of the Credit Contracts and Financial Services Law Reform Bill in Parliament last night.

Banks will have to be careful if the Reserve Bank removes restrictions on their high loan-to-value ratio (LVR) residential mortgage lending, says new BNZ CEO Anthony Healy, or the regulator may quickly reintroduce them.

The Commerce Commission says farmers concerned about the way their interest rate swaps were sold to them have until the end of the month to contact the regulator otherwise they may miss out on future compensation claims.

Anti-money laundering legislation, bank fees class action, and the Reserve Bank's restrictions on banks' high loan-to-value ratio (LVR) home loans are the reasons behind a decent chunk of the increasing number of bank customers turning to the Banking Ombudsman.

More...

News

Major Topics

Helpful Resources

Socialize

About Us

Westpac is alleged to have sold interest rate swaps to businesses despite knowing a likely fall in interest rates would leave its customers facing losses, the courts have heard.