Kiwibank faces prosecution for overcharging 36,000 customers $7M due to systemic Fair Trading Act breaches.
Kiwibank is facing prosecution for overcharging more than 36,000 customers by $7 million due to systemic breaches of the Fair Trading Act, according to the Commerce Commission. The breaches relate to incorrect charges on home loans, credit cards, and overdrafts, dating back to the bank's inception in 2002. Kiwibank has reported the breaches to the commission and has started refunding affected customers.
June 10, 2024
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