ANZ close to redressing faulty loan calculations

Jenny Ruth
Mon, 26 Nov 2018

By Jenny Ruth Nov. 26 (BusinessDesk) - ANZ Bank New Zealand has compensated about 86 percent of the 100,000 customers affected by its faulty loan calculator from March 2015. The remedial payments, expected to total close to $10 million, should be 95 percent complete by Christmas and the bank expects the remediation to be finished early in the new year. National Business Review revealed the problem with the loan calculator in May this year. The problem affected mortgage customers, personal loans and business loans and the faulty calc...

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