44256 (2025). Arena Williams to the Minister of Commerce and Consumer Affairs

44256 (2025). Arena Williams to the Minister of Commerce and Consumer Affairs: Does the Minister agree with Consumer New Zealand that there are no penalties for banks for non-compliance in the New Zealand Bank Association's voluntary scam reimbursement scheme?

Hon Scott Simpson: If banks fail to meet their obligations under the code, they must reimburse the customer for scam losses, as provided for under the code. Customers can also complain to the Banking Ombudsman Scheme directly if they cannot resolve an issue with their bank. This is a free and independent financial dispute resolution scheme.