ComCom investigates BNZ over CCCFA disclosure breaches

By Jenny Ruth May 27 (BusinessDesk) - The Commerce Commission has told Bank of New Zealand it has commenced an investigation into BNZ’s compliance with particular disclosure requirements under the Credit Contracts and Consumer Finance Act 2003. BNZ discloses the investigation’s existence in its latest disclosure statement and says “the bank intends to fully comply with the Commerce Commission’s request for the bank to supply additional information to support its investigation. The potential outcome of the investigation remains uncertain.”...