Over 6,000 ASB customers don’t know the bank owes them, report reveals

Over 6,000 ASB customers don’t know the bank owes them, report reveals
More than $571,000 was unable to be paid to more than 6,300 former ASB customers. (Image: NZME)
Garth Bray
ASB Bank has been unable to locate more than 6,000 customers owed remediation, which it had negotiated with the Commerce Commission to settle a breach of credit contract law. BusinessDesk has obtained a final report on the settlement agreement filed with the commission in 2022.  The report shows more than $571,000 was unable to be paid to more than 6,300 former customers to whom the bank had failed to provide disclosure on their home loans and personal loans. ‘Shambles’Litigation lawyer Scott Russell of Russell Legal...

More Law & Regulation

$600m in tourist spend at risk from regulation: Mastercard
Finance

$600m in tourist spend at risk from regulation: Mastercard

When Europe cut interchange fees, foreign card decline rates soared.

Pattrick Smellie 27 Jun 2025
Can you be an influencer and keep your day job?
Law & Regulation

Rachael Judge: Can you be an influencer and keep your day job?

The more public your role, the more likely it is to reflect on your employer.

Rachael Judge 27 Jun 2025
Public Trust makes claims of $900m against SolarZero
Law & Regulation

Public Trust makes claims of $900m against SolarZero

Public Trust has made unsecured claims against the company.

Ian Llewellyn 25 Jun 2025