NZ banks face class suit over $1 billion in default fees

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“Our banks communicate very clearly on fees, which is a reflection of our very competitive banking sector. The fees being singled out are avoidable, and our industry has also made it easy for customers to switch banks if they feel the fees they’re paying are too high,” New Zealand Bankers’ Association chief executive Kirk Hope said. He is advising customers concerned about fees to talk to their bank rather than lawyers.

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