29159 (2025). Arena Williams to the Minister of Commerce and Consumer Affairs

29159 (2025). Arena Williams to the Minister of Commerce and Consumer Affairs: Does the Minister agree with the Managing Director of the Australia-based litigation funder CASL who said that the ANZ and ASB Banking Class Action "goes to the heart of the huge power imbalance that exists between banks and their individual customers, who without litigation funding would simply not have the resources to pursue legal action against ANZ and ASB for their serious failings."?

Hon Scott Simpson: I have no general concern about litigation funding in New Zealand. I note that the Commerce Commission currently enforces the Credit Contracts and Consumer Finance Act 2003 consistent with the Act's primary purpose of "protecting the interests of consumers". This includes reaching settlements and bringing proceedings on behalf of borrowers affected by non-compliance.