FSCL warns of a ‘second wave’ of financial complaints

Wed, 14 Oct 2020

A rush of covid-related financial complaints may be coming as people look for help when government relief packages and mortgage deferrals end, Financial Services Complaints Limited says. The dispute resolution firm has just finished its busiest year in its 10-year history, with complaint numbers up 36 percent this year. This is in part due to a late surge of complaints relating to travel insurance as covid disrupted overseas trips“We’ve had what we regard as our first wave, which has by and large been travel insurance complain...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Economy

RBNZ cuts official cash rate to 2.25%

The committee voted by five to one to cut.

Rebecca Howard 3:13pm

Markets

Rakon stock-price climb triggers watchdog review

Rakon shares rose almost 9% on Wednesday but spiked even higher during the day.

Rebecca Stevenson 2:25pm

Rakon stock-price climb triggers watchdog review

Economy

RBNZ cuts Official Cash Rate to 2.25%

The committee voted 5 to 1 to cut.

Rebecca Howard 2:08pm

Sponsored

Spark Accelerate: Are you ready for exponential AI growth?

Spark

Sponsored

Cybersecurity skills gap leaving Kiwi businesses at risk - report

A cybersecurity skills shortage is creating additional cyber risks, according to a new global report.

Fortinet

More Law & Regulation

Finance

Co-operative Bank, ComCom agree penalty fee

The bank is silent on the penalty amount it and the Commerce Commission are aligned on.

Andy Macdonald 5:00am

Property

Amendment may create a fast-track to judicial reviews

How a fix to speed up projects could send more to court instead.

Garth Bray 5:00am

Law & Regulation

Commerce commission takes Mobil NZ to High Court

The Commerce Commission has initiated legal action against Mobil New Zealand, alleging that the company's pricing methods violate the Fuel Industry Act 2020.ComCom has filed proceedings in the High Court, claiming two ongoing breaches of the act, it said in a statement. The f...

BD AI 25 Nov 2025

Primary Sector

Minerals royalties fall 40% as Govt orders review

Govt’s cut from oil and gas slumps in line with production.

Ian Llewellyn 25 Nov 2025

FSCL warns of a ‘second wave’ of financial complaints

More Law & Regulation

Your company has a subscription

Team