Bank of New Zealand
The Bank of New Zealand (BNZ) has been warned by the Commerce Commission over likely responsible lending breaches and failures to provide timely and accurate information to borrowers. In the Commission’s view, BNZ likely breached responsible lending and disclosure obligations under the Credit Contracts and Consumer Finance Act 2003.
Case Details
Parties
Bank of New Zealand
Category
Consumer credit
Sub-category
Act/Section
Credit Contracts and Consumer Finance Act 2003 9C, 17, 22
Industry
Financial and insurance services
Status
Closed
Outcome
Warning letter
Case Number
Date opened
03 October 2018
Date closed
30 November 2020
Contact person