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Years of under-investment: bank, insurer remediations top $150m

FMA director banking and insurance Clare Bolingford says financial services still playing catch up on creaky systems.

Illustration: Michael Hickmott.

The Financial Markets Authority says $150 million has been returned by banks and life insurers to more than 1.5 million customers following culture and conduct reviews of the industry.

But FMA director banking and insurance Clare Bolingford said banks and insurers were still playing catch-up on 10

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Years of under-investment: bank, insurer remediations top $150m
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