New Zealand's Commerce Commission said on Wednesday that it has issued a wa...
FILE PHOTO: The HSBC headquarters is seen in the Canary Wharf financial district in east London, Britain February 15, 2016. REUTERS/Hannah McKay/File Photo
WELLINGTON - New Zealand’s Commerce Commission said on Wednesday that it has issued a warning to HSBC Holdings Plc over its failure to comply with the information disclosure requirements. HSBC self-reported the matter to the Commission following a routine audit of its business in New Zealand. HSBC identified six occasions between 2014 and 2018 when it failed to disclose an interest rate increase to borrowers, the commission said in a statement.
The failures affected 225 loans and 180 borrowers. The bank provided compensation to affected borrowers totaling about NZ$7,000 , it said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why some conservatives are voting in Michigan's Democratic primary'This is why we get do-overs.' Why some conservatives are voting in Michigan's Democratic primary
Read more »
U.S. has a coronavirus warning for its citizens: Don't travel on cruise shipsThe State Department on Sunday issued the warning, which could further hurt the cruise ship industry and the port cities that depend on it.
Read more »
FDA and FTC warn televangelist Jim Bakker and six others to stop selling fraudulent coronavirus productsThe U.S. FDA and FTC issued warning letters to seven companies for reportedly selling fraudulent coronavirus treatment products.
Read more »
School canceled, health officials issue stern warning to Missouri family that broke coronavirus quarantineA man in St. Louis Missouri was told to self-quarantine after a family member called with symptoms and later tested positive for COVID-19.
Read more »
FTC, FDA Issue Warnings to Companies Over Coronavirus ClaimsSome companies are apparently attempting to capitalize off of the coronavirus outbreak.
Read more »