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

 


Westpac, BNZ next up in bank fees' class suit

Westpac, BNZ next up in bank fees' class suit

By Paul McBeth

Aug. 18 (BusinessDesk) - Westpac Banking Corp and Bank of New Zealand are the next two lenders to face a class suit over penalty fees.

Lawyers for the Fair Play on Fees suit will file papers in the High Court in Auckland on Wednesday against the two lenders, the group said in a statement. Westpac and BNZ were named as the next targets, along with ASB Bank in February, with papers already filed against Kiwibank and ANZ Bank New Zealand.

Lawyers representing the group, led by Auckland-based Andrew Hooker, Australian firm Slater & Gordon and Litigation Lending Services, a litigation funding firm, last year initiated court cases against ANZ and Kiwibank, claiming customers were overcharged millions of dollars in fees for overdrafts, late credit card payments and bounced cheques.

“Last year we announced we were would take action against these banks but held off filing the documents until judgments in Australia gave us a clearer picture of how the case could unfold in New Zealand,” Hooker said. “We can now file against Westpac and BNZ with the knowledge that courts in similar cases have found penalty fees, such as credit card late payment fees, to be unlawful.”

The group is asking Westpac and BNZ customers to join the suit, saying more than 41,600 people have registered with the Fair Play on Fees action.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

OceanaGold: Man Killed In Waihi Mine Accident

A 29-year-old man had died following a work place accident at OceanaGold mine, Waihi last night. The man was killed after the front end loader he was in rolled down a slope. The accident happened at approximately 6.30pm on Thursday night. More>>

ALSO:

Constructing Consent: Annual Housing Consents Highest In Over A Decade

More than 29,000 new homes gained building consent in the year to June 2016, up 16 percent from the previous June year, Statistics New Zealand said today. More>>

ALSO:

War Against Weevil For Future Peas: “No Peas, No Weevil” Ban Now In Place In Wairarapa

The Ministry for Primary Industries (MPI) has today placed a ban on growing peas within a specified area and placed controls on moving pea material (seed and untreated pea straw) within, in and out of this area for the next 2 years. More>>

ALSO:

Wood Producers: Crisis In New Zealand Log Supply

New Zealand wood processing leaders held a hui with senior government officials and political leaders in Whangarei yesterday to assess the acute log supply shortage to local mills in Northland. More>>

Consents And Taxes: Trustpower 'Very Disappointed' With Judgement

Trustpower is "very disappointed" with a Supreme Court ruling dismissing its bid to claim tax deductions on $17.7 million of project costs in a case closely watched by large-scale infrastructure developers. More>>

ALSO:

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news