Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Copeland calls for bank interest charge probe

Monday, 1 August 2005

Copeland calls for bank interest charge probe

The Banking Ombudsman needs to look more closely at interest charging practices during the 1990s by the Bank of New Zealand, in light of the Sunday Star-Times revelation of massive overcharging by the National Bank of Australia in Australia, United Future Finance spokesman Gordon Copeland said today.

"The multi-million dollar overcharging scandal which has now been revealed in Australia follows hot on the heels of similar practices at the National Irish Bank revealed earlier this year. In both Ireland and Australia, the NBA has been forced to credit millions of dollars back to overcharged customers.

"The Bank Customer Action Collective here in New Zealand has been pushing for some time now for an investigation of claims that the BNZ also overcharged its customers during the 1990s.

"So far however the Banking Ombudsman has not taken these charges seriously," Mr Copeland said.

"Since the NBA is the parent company of both the National Irish Bank and the BNZ, and even in its own operations in Australia has been found to be grossly overcharging, the pressure is mounting on the Banking Ombudsman to investigate.

"That's what the Irish authorities did. They appointed a prominent chartered accountant and judge to thoroughly examine the allegations and found they were proven.

"Surely New Zealand bank customers deserve no less. The BNZ should be happy to co-operate fully with an investigation of this kind as a chance to clear their name and reputation if no overcharging has occurred."


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Werewolf: What Does Winston Peters Want His Legacy To Be?

A lot of people in New Zealand seem to resent Winston Peters and the power that he appears to have. “Appears” being the operative word. In reality, Peters will have power only up to the point that he uses it.

By next week, he’ll have become just another junior player in an MMP governing arrangement, battling to hold onto the gains he was promised. More>>


Rising Toll: Road Safety Needs To Be A Higher Priority

Official advice released to the Green Party under the Official Information Act shows that the previous National Government dismissed an option to make road safety its most important transport priority after being told the road toll was rising. More>>


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>


Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>


Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>


Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>


Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>


Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>




Featured InfoPages

Opening the Election