Co-operative Bank, ComCom agree penalty fee

Chief executive Mark Wilkshire regrets historical practices. (Image: Supplied)

Wed, 26 Nov 2025

Co-operative Bank says it is aligned with Commerce Commission over appropriate penalty for historically over-charging customers, even before the matter has reached the High Court.When asked the amount, Co-operative Bank said it would "provide further comment once the Court has delivered its judgment."The bank has remediated a total of $7.2 million across almost 50,000 customers for charging higher fees than it should have, in breach of credit contracts and consumer finance laws.'Historical practices'The High Court would decide...

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