Latest from Banking and finance

Southern Cross fined $1.1m for misleading discount claims

Discounts were applied only to base premiums, not entire premiums.

Govt moves to part-privatise Kiwibank

Will investors be able to sell their shares to foreigners?

Investment manager Milford Funds boosts dividend despite profit dip

Performance fees dropped sharply from $84m to $1m in 2025.

Here's how you might get $20k from your bank

Cashback incentives ranged from $3000 to $20,000 for refinancing homeowners.

Bank-hopping among mortgage holders hits record high

Broker warns borrowers often realise the grass isn't always greener on the other side.

Westpac warns of multimillion-dollar 'subscription trap'

The bank blocked $25m in recurring subscription charges.

Commerce Commission dismisses farmers' complaint against banks

Competition watchdog says Net-Zero Banking Alliance isn't anti-competitive.

ASB says no to $300m legal settlement; Winston Peters weighs in

ANZ declined similar settlement proposal earlier in the week.

'Misguided stunt': ANZ declines $300m legal settlement offer

David Seymour gets involved.

Govt accused of doing billion-dollar backroom deal with banks

Lawyer accuses Government of poor law-making process.

Xero to acquire US platform Melio in $4.1b deal

Accounting software firm Xero plans to buy Melio for US$2.5b.

$13b risk prompts Govt to back controversial bank law change

Banks are to benefit from the controversial decision.

House prices to be 20% lower in real terms by mid-2030s - forecast

House prices will be 20% lower in real terms by the mid-2030s than in 2021.

Major banks halt over-counter deposits into others' accounts

ANZ stopped accepting deposits into others' accounts last year.

Final big bank drops home loan rates after OCR cut

Westpac announced changes to its six-month and one-year rates today.

ASB offers $150,000 interest-free loans for farm solar systems

Farmers could expect to get payback from as early as the sixth year of generation.

New, never-lived-in Auckland apartment project up for mortgagee sale

WFT Finance brought in a subcontractor to finish the apartments before calling Colliers.

Another major bank cuts mortgage and deposit rates in NZ

But it isn't matching other banks which are offering 4.89% over 18 months.