The Co-operative Bank in Wellington. Photo: RNZ / Alexander Robertson The highly rated but small Co-operative Bank is replacing its banking system as it looks to scale up and take on the big four. The bank said the replacement of the system would happen over the next three years, with the cost in the tens
ASB and ANZ have rejected an offer to settle a class action law suit for breaches of historic credit disclosure laws. Photo: A top lawyer working with the plaintiffs in a large-scale banking class action is calling for a formal investigation into “serious civil service process failures” by Ministry of Business, Innovation and Employment officials.
Photo: ASB and ANZ have rejected an offer to settle a class action suit against them, for about $300 million. Instead, the legal drama continues – and now the country’s lawmakers are involved, too. So what is the class action suit actually about, and what’s happening now? What does the class action claim? The class
An RBNZ report said the ageing population will likely force changes in the financial system. (File photo) Photo: Unsplash/ Towfiqu Barbhuiya Ageing population likely to force changes in financial system – RBNZ report Change saving, investment behaviours such as less borrowing and higher saving Could put downward pressure on interest rates, change where banks source
Photo: There are concerns a class action lawsuit against two of our biggest banks will be undermined by a law change going through Parliament. The government introduced a bill to amend the Credit Contracts and Consumer Finance Act at the end of March. Among the changes – the redress for customers if banks or creditors
By Catherine Hutton, Open Justice reporter of The High Court trial has completed its second week and is expected to run another two. Photo: RNZ / Hamish Cardwell A woman killed in her home confided in friends in the months before her death that two large sums of money had gone missing from her house,
The man appeared in the Auckland District Court on Friday. Photo: RNZ/Marika Khabazi A Wellington man has been arrested as part of an FBI investigation into an organised criminal group which is alleged to have stolen cryptocurrency valued at $450 million. Detective Inspector Christiaan Barnard said 13 people faced charges, after search warrants were executed
French Interior Minister Bruno Retailleau said he would meet industry professionals to discuss how to prevent future kidnappings. Photo: Hans Lucas via AFP / Xose Bouzas France on Wednesday faced calls to bolster security for cryptocurrency firms, after armed men attempted to snatch the daughter and grandson of the Paymium platform from a Paris street
Photo: RNZ Legal experts have been left perplexed by Immigration New Zealand’s interpretation of regulations related to the investment visa pathway for Chinese nationals. The government upgraded the Active Investor Plus visa on 1 April to help encourage growth and make investing in New Zealand more attractive for overseas individuals. The updated information on Immigration
Amid concerns by Opposition members on proposed amendments, Parliament Wednesday passed the Banking Laws (Amendment) Bill, 2024, which allows bank account holders to have up to four nominees. Lok Sabha had passed the Banking Laws (Amendment) Bill in December 2024. Replying to a debate on the Bill in Rajya Sabha, Finance Minister Nirmala Sitharaman said