ASB pinged $2.1m for fair dealing breaches
The bank admitted its system failures affecting over 25,000 customers to the Financial Markets Authority.
ASB refunded more than 25,000 customers about $4.7 million.
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ASB Bank has been fined $2.1 million for historic fair dealing breaches affecting more than 25,000 customers.
The bank had admitted making false and/or misleading representations that resulted in financial harm for failure to correctly apply multi‑policy discounts on ASB‑branded insurance
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