UPDATE NZ banks face class suit over $1 bln in default fees

Mon, 11 Mar 2013

(Adds comment from lawyers throughout) March 11 (BusinessDesk) - The country's registered banks have been accused of overcharging 1 million kiwis to the tune of $1 billion in default fees claimed by lenders over the past six years and face what's being billed as New Zealand's biggest class action. Auckland-based lawyer Andrew Hooker, Australian consumer law firm Slater & Gordon and Litigation Lending Services, a litigation funding firm, are seeking plaintiffs to join a class suit against New Zealand's registered banks to reclaim fees charge...

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