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

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

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/f4bcf280-f352-41a3-abb0-b2ba008503d9/transcript