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September 2024

Fraud & scams /

Bank reimbursed quarter of customer’s scam loss

Addison received a call from someone saying he was from her bank's fraud team. The caller’s number m…

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September 2024

Hardship and financial difficulty /

Mortgage registration error had no bearing on couple’s financial difficulties

Kahurangi and Toby owned their own home, a bare piece of land next door and eight rental properties.…

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September 2024

Investing /

Bank properly assessed loan application to 66-year-old investor

In 2018, Florence withdrew funds from an investment company to put towards the purchase of a propert…

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September 2024

Lending restrictions /

Bank acted reasonably to accommodate couple as building project became ensnared in delays and changes

In mid-2021, Minerva and Horatio asked the bank for a $170,000 loan to build a pool and modular unit…

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September 2024

Account mandates /

Mother suffered no financial loss as a result of bank paying invoice without other signatory’s approval

Juniper and her brother were signatories on their elderly mother's account. The account mandate said…

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September 2024

Joint accounts /

Bank closed joint account without approval of other account holder

Astrid had joint accounts with her partner. In late 2022, their relationship deteriorated to the poi…

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August 2024

Concerns about lending decisions /

Bank met obligations to customer after decision to quit retail banking

Wren had several fixed interest rate loans whose terms expired at different times, the last being in…

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August 2024

Concerns about lending decisions /

Bank met obligation to treat customer fairly and reasonably during wind-up

Galen took out a bank loan to buy a property in January 2022. When, in June 2023, the bank announced…

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August 2024

Credit laws and banking /

Bank clearly communicated that sale proceeds were to be used to reduce loan.

Arlo told the bank he had decided to sell one of two properties the bank held as security for his lo…

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Case notes

Bank reimbursed quarter of customer’s scam loss

Mortgage registration error had no bearing on couple’s financial difficulties

Bank properly assessed loan application to 66-year-old investor

Bank acted reasonably to accommodate couple as building project became ensnared in delays and changes

Mother suffered no financial loss as a result of bank paying invoice without other signatory’s approval

Bank closed joint account without approval of other account holder

Bank met obligations to customer after decision to quit retail banking

Bank met obligation to treat customer fairly and reasonably during wind-up

Bank clearly communicated that sale proceeds were to be used to reduce loan.