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. 

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