The Government has introduced legislation that could see more than 150,000 mortgage holders miss out on hundreds of millions in compensation for mistakes made by ANZ and ASB.

The Government wants to ensure lenders are not disproportionately punished if they fail to disclose all the right information about a product to their customers.

NZ Herald Wellington business editor Jenee Tibshraeny explains what this could mean for the banks - and homeowners. 

LISTEN ABOVE

The Government has introduced legislation that could see more than 150,000 mortgage holders miss out on hundreds of millions in compensation for mistakes made by ANZ and ASB.
The Government wants to ensure lenders are not disproportionately punished if they fail to disclose all the right information about a product to their customers.
NZ Herald Wellington business editor Jenee Tibshraeny explains what this could mean for the banks - and homeowners.&nbsp;
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Jenee Tibshraeny: NZ Herald Wellington business editor on the Government's proposed changes to consumer finance laws

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/32ba175a-5bf2-4319-ab50-b2ba008504f2/transcript