Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Banker Paid Watchdog clearsbanks of wrongdoing

Media Release

Banker Paid Watchdog clearsbanks of wrongdoing

NZPA Reports Banking Ombudsman Mrs Liz Brown Says there's no case of overcharging against banks in New Zealand

The fact that cases reported to the Banking Ombudsman's office where proven overcharging exists the Banking Ombudsman took NO action citing terms of reference andor jurisdiction restrictions.

The reported statement of the Banking Ombudsman, " she said there was no evidence in the flow of complaints to her office that overcharging was systemic problem " is totally true.

This organisation's experience with the Banking Ombudsman contains clear proof that the "banking watchdog" is protecting the banks not the bank's customers as required by Government directives to the Banking Industry at the time of the Banking Ombudsman Scheme's formation.

Mrs Brown's reported statements are reflective of the situation that she is paid by the Banks therefore the old saying " he who pays the piper, it is he that calls the tune", is very appropriate when considering her constant defence of the banks poor practices.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>