The Bank of New Zealand (BNZ) has been warned by the Commerce Commission over likely responsible lending breaches and failures to provide timely and accurate information to borrowers. In the Commission’s view, BNZ likely breached responsible lending and disclosure obligations under the Credit Contracts and Consumer Finance Act 2003.
PartiesBank of New Zealand
Category
Consumer credit
Sub-category
Act/Section
Credit Contracts and Consumer Finance Act ss 9C, 17, 22