Westpac cops $3.64m penalty for lender responsibility breaches

Westpac has remediated up to 11,398 impacted borrowers by a total of $2.67m. (Image: Alex Burton)

Fri, 28 Nov 2025

Westpac New Zealand Ltd has copped a pecuniary penalty of $3.64 million for breaching lender responsibility principles in a "foreseeably deficient" manner.The Commerce Commission said the penalty was imposed by Justice Jane Anderson of the High Court for multiple failures by Westpac.The fine reflected that Westpac has compensated up to 11,398 impacted borrowers for a total of $2.67m. The conduct also impacted up to 3,012 guarantors.The issues related to the Credit Contracts and Consumer Finance Act, which have been in focus regarding...

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