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30 May 2025 6:38
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  •   Home > News > Business

    Westpac says it's remediated all customers who were misled or overcharged by package issues

    Westpac says it's remediated all customers who were misled or overcharged by package issues


    The Financial Markets Authority says the bank's breaches of the fair dealing provisions affected almost 25-thousand customers and resulted in 6.35-million-dollars in overcharges.

    A Westpac spokesperson says it self-reported the issues which applied to customers under some product packages and Business Transact Accounts.

    They say it's cooperated fully and openly with the FMA's investigation.

    A penalty hearing is likely due some time next year.

    © 2025 Newstalk ZB, NZCity

     Other Business News
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     29 May: Fonterra's reporting a strong rise in profit, while warning of more global uncertainty on the horizon
     29 May: Christopher Luxon remains hopeful the latest cut in the OCR isn't the last
     29 May: The average Auckland household will face a 324 dollar increase in rates and water bills from July
     29 May: The Reserve Bank's Chief Economist says making OCR decisions by-committee is working well, even if the committee members sometimes disagree
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     Today's News

    Entertainment:
    Kristin Cavallari thinks getting a boob job is "one of the best things" she's ever done 6:20

    Business:
    Proposed changes to the Resource Management Act are set to remove road blocks for quarries 4:37

    Environment:
    A new severe thunderstorm warning's in effect until 8.15pm - for the Far North and Northland 21:57

    Entertainment:
    Deborra-Lee Furness has found "liberation and freedom" following her split from Hugh Jackman 21:50

    Entertainment:
    Barry Keoghan's confidence was "knocked out" of him when he got rejected by dance and drama schools 21:20

    Environment:
    A severe thunderstorm's expected to sweep across Auckland until 9.20pm 21:17

    Entertainment:
    Joe Jonas has described his post-divorce relationship with ex-wife Sophie Turner as a "beautiful co-parenting" experience 20:50

    Entertainment:
    Alec Baldwin's children have ambitions to become everything from a quarterback to talk show host 20:20

    Entertainment:
    Cassie Ventura has reportedly gone into labour just days after concluding her testimony in the federal sex trafficking and racketeering trial of her violently abusive ex-boyfriend Sean 'Diddy' Combs 19:50

    Entertainment:
    Rick Derringer, the celebrated classic rock guitarist whose career spanned over six decades, has died aged 77 19:20


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