Co-operative Bank remediates thousands of customers for 'unreasonable' fees

(Image: Commerce Commission)

Tue, 25 Nov 2025

Co-operative Bank has remediated a total of $7.2 million across almost 50,000 customers for charging higher fees than it should have and may yet have to pay a court-imposed fine.The Commerce Commission said the charging of higher fees breaches the Credit Contracts and Consumer Finance Act (CCCFA) 2003, which is in focus due to a hefty class action.In October, big-bank ANZ vowed to continue fighting a class-action lawsuit alleging breaches of the CCCFA, even as rival ASB has paid a potentially record $135.6m to settle the issue.ANZ remains...

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