ASB sued by FMA over self-reported breach
Regulator files civil court action after bank overcharged customers $3.9m over eight years.
The FMA is seeking declarations, pecuniary penalties and costs.
NBR Staff
Tue, 08 Oct 2024
The Financial Markets Authority has filed legal action against ASB Bank for overcharging insurance and banking customers $3.9 million between April 2014 and May 2022.
The excess charges were self-reported to the FMA by the bank in 2021 and all customers have been repaid, plus use-of-money
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NBR Staff
Tue, 08 Oct 2024
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