The Bank of New Zealand is fined $2.6 million after admitting it misled customers about how interest is calculated on non-profit accounts, resulting in significant underpayments over nine years.
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customers underpaid due to misleading terms
BNZ fined $2.6 million after misleading some customers with non-profit accountsfinancial loss from inaccurate practices
Big bank underpays about $5.4 million in interest, admits to misleading customers, FMA saysSpotted something wrong on this page? Report a correction.