CORRECT: ANZ Bank was most aggressive in rural rate swaps sales to farmers, ComCom says

Thu, 07 May 2015

(Clarifies Berry's view on later claims in 12th graph, adds quote in final graph) By Paul McBeth May 7 (BusinessDesk) - ANZ Bank New Zealand, the country's biggest lender, was the most aggressive in pitching interest rate swaps to farmers, over which it subsequently agreed to pay $19 million in compensation, the Commerce Commission says. General counsel competition Mary Anne Borrowdale told Parliament's primary production select committee that of the three banks to settle with the regulator, ANZ had the most customers involved and was...

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