ASB pays $135.6m to settle long-running CCCFA class action

ASB settles class action, admits no wrongdoing. (Image: NZME)

Tue, 07 Oct 2025

High-street lender ASB has agreed to pay $135.6 million to settle a class action brought against it for alleged breaches of the Credit Contracts and Consumer Finance Act (CCCFA).The settlement – without admission of liability or wrongdoing – concluded four years of legal proceedings, said ASB. The class action related to disclosure documents ASB was required to provide to customers who had requested changes to their lending arrangements between 2015 and 2019.In particular, it settled on whether one potential interpretation of t...

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