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)

Fri, 06 Sep 2024

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...

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