Westpac New Zealand Limited
The Commission has accepted court enforceable undertakings from Westpac to resolve its investigation under section 9C of the Credit Contracts and Consumer Finance Act 2003. The investigation related to issues that Westpac identified in implementing its loan repayment deferral scheme for Covid-19 impacted borrowers.
Case Details
Parties
Westpac New Zealand Limited
Category
Consumer credit
Sub-category
Act/Section
Credit Contracts and Consumer Finance Act 2003 9C, 9C(2)(a)(iii), 9C(3)(c)
Industry
Financial and insurance services
Status
Closed
Outcome
Enforceable undertakings
Case Number
Date opened
09 September 2020
Date closed
20 December 2021
Contact person