Remitters losing against RBNZ was inevitable, says expert

Remitters losing against RBNZ was inevitable, says expert
Barrister Gary Hughes says the case is bad for small remitters. (Image: Supplied)
Victoria Young
An anti-money laundering expert says a recent case where money remitters lost against the Reserve Bank of New Zealand (RBNZ) was “probably inevitable” and a “bad outcome for the small business and money transfer sector”.Justice David Gendall threw out a judicial review of the RBNZ in a decision dated June 8.  The money remitters, The Ink Patch Money Transfer, Samoa Money Transfer, Samoa Finance Money Transfer and KlickEx Pacific took the action.They claimed registered banks stopped opening new bank accounts for remi...

More Finance

Sharesies unleashes crypto coins on platform
Finance

Sharesies unleashes crypto coins on platform

The average spend during the beta launch has been about $1,000.

Gregor Thompson 15 Oct 2025
Otago a lukewarm jewel of economic temperature: survey
Finance

Otago a lukewarm jewel of economic temperature: survey

An economic thermometer reveals a cool-to-cold mood hanging over NZ, with Otago lukewarm.

Staff reporters 15 Oct 2025
Full year result tracking to forecast: Co-operative Bank
Finance

Full year result tracking to forecast: Co-operative Bank

Tj FY2026 and core banking system replacement tracking in line.

Andy Macdonald 15 Oct 2025
RBNZ plan to cut AT1 capital layer wins cautious lender support
Finance

RBNZ plan to cut AT1 capital layer wins cautious lender support

Proposal to pare AT1 capital from prudential stacks wins cautious support from lenders.

Andy Macdonald 14 Oct 2025