Class-action lawyer accuses Govt of behind-the-scenes deal with banks

The lawyer is dismayed by the law-making process affecting the class action against the ANZ and ASB. (Image: NZME)

Thu, 26 Jun 2025

The Government is being accused of making a backroom deal with banks that could save them billions of dollars.Documents released under the Official Information Act show officials quietly investigated making a retrospective law change that would affect a massive class action against ASB and ANZ.The “shocking” thing – in the view of the lawyer who brought the action, Scott Russell – is that officials of the Ministry of Business, Innovation and Employment (MBIE) consulted the banks, but not him or the public.Russell emailed...

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