FMA sues Kiwibank for overcharging fees
The bank overcharged customers $1.2m in fees over 15 years, the market regulator says.
The Financial Markets Authority (FMA) is taking High Court action against Kiwibank for making false or misleading representations over fee waivers.
Kiwibank’s terms and conditions said customers would not pay transaction fees on their accounts if they also had a mortgage with the bank.
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