2 mins to read BNZ to pay $2.6m for misleading conduct Chief executive Dan Huggins accepts the FMA’s findings and says he remains committed to effective policies and systems. BNZ chief executive Dan Huggins. Wed, 17 Jun 2026 © All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription. Australian-owned BNZ has agreed to pay $2.6 million to the Crown, after admitting it breached fair dealing rules by misleading customers on how interest was calculated on
some non-profit accounts. The bank updated its terms and conditions in 2014, saying that interest would be calculated daily. Want to read more? It’s easy. Choose your subscription Already have an account? Login Smartphone Only Subscription NZ$29.95 / monthly Monthly Premium Online Subscription NZ$49.95 / monthly Smartphone Only Annual Subscription NZ$299.00 / yearly Yearly Premium Online Subscription NZ$499.00 / yearly Premium Group Membership 10 Users NZ$385+GST / monthly $38.5 per user – Pay by monthly credit card debit Premium Group Membership 20 Users NZ$660+GST /
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Contact the Writer: editor@nbr.co.nz News tip? Question? Typo? Let us know: editor@nbr.co.nz © All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription. Margot Gatland Dan Huggins Free News Alerts Sign up to get the latest stories and insights delivered to your inbox – free, every day. Related News ASB fined $6.7m for anti-money laundering breaches ASB pinged $2.1m for fair dealing breaches General Business FMG pays $2.1m penalty for fair dealing breaches RBNZ pings ASB
for money laundering system failures ANZ admits customer breaches, pays Crown $3.25m
BNZ, $2.6 million, Crown, fair dealing, FMA, misleading customers, non-profit accounts, interest calculation, terms and conditions 2014, Dan Huggins