Subscribe today - find out more
Why you should consider BusinessDesk
Finance

ANZ Bank to defend class action suit

Jenny Ruth
Thu, 30 Sep 2021

ANZ Bank to defend class action suit
A class action suit has been launched agains ANZ and ASB banks. (Image: supplied)
Jenny Ruth
Thu, 30 Sep 2021
ANZ Bank said it will be defending the class action suit launched against it late yesterday which has the potential to cost it much more than the $35.4 million it has already paid."We understand this litigation relates to a historic loan calculator issue, although we have not yet seen a copy of the claim," the bank told BusinessDesk."This issue resulted in some customers underpaying their loans by an average of $2 a month for a short time. ANZ identified the issue and reported it to the Commerce Commission in 2017," it said....

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Primary Sector
Fewer cows produced more milk
Rebecca Howard | Thu, 02 Dec 2021

Average production per cow hit a record high while the herd shrank slightly. 

Markets
Morningstar picks Spark as omicron refuge
Dan Brunskill | Thu, 02 Dec 2021

Spark’s share price spiked more than 5% early this week as investors reacted to news of the variant, but it had been trending down, sliding more than 10% in the past three months.

Law & Regulation
A crackdown on all your houses: no blind eye to poor privacy practices
Michael Andrew | Thu, 02 Dec 2021

The first year of the new privacy act saw the privacy commissioner flex his powers, publicly rebuking the Reserve Bank. We can expect to see more of the same in 2022, legal watchers say.

Sponsored
Statutory reform can deliver momentum to land transport decarbonisation

To met the government's ambitious net carbon zero target, New Zealanders need to reduce their reliance on cars.

Sponsored
Mansons leads with 120% carbon offset for new builds

Mansons TCLM is committing to a benchmark of 120% carbon offset for new buildings.