Kiwibank Limited
On 26 November 2024 Kiwibank Limited was fined $1.5m in relation to 21 charges the Commerce Commission filed under sections 13(i) and 40(1) of the Fair Trading Act 1986. The charges arose from representations made to customers regarding banking services which Kiwibank failed to provide on the agreed terms between 31 May 2019 and 30 May 2024. Kiwibank remediated all affected customers.
Case Details
Parties
Kiwibank Limited
Category
Consumer credit
Sub-category
Act/Section
Fair Trading Act 1986 13(i), 40(1)
Industry
Financial and insurance services
Status
Closed
Outcome
Judgment
Case Number
Date opened
31 May 2024
Date closed
26 November 2024
Contact person