Kiwibank fined over $800k for misleading customers
Some 35,000 customers overcharged between September 2005 through to March 2020.
Justice Cooke said: “Such failures potentially have important market consequences."
Kiwibank has been fined for making false and misleading claims to thousands of home loan customers.
The High Court has ordered the New Zealand-owned bank to pay a $812,500 civil penalty.
Kiwibank admitted breaching the Fair Dealing provisions of the Financial Markets Conduct Act earlier this year.
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