New Zealand's Commerce Commission files High Court proceedings against Westpac NZ

Thu, 11 Jul 2019

By Rebecca Howard July 11 (BusinessDesk) - New Zealand's Commerce Commission has filed High Court proceedings against Westpac New Zealand. The commission alleges the bank breached the Credit Contracts and Consumer Finance Act 2003 by failing to provide key information it was required to give customers under the law. “This case is important for clarifying the scope of lender liability to borrowers, in a situation where thousands of customers were not provided with initial disclosure required under the law,” said commission chair Anna...

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