Media Release
Banker Paid Watchdog clearsbanks of wrongdoing
NZPA Reports Banking Ombudsman Mrs Liz Brown Says there's no case of overcharging against banks in New Zealand
The fact that cases reported to the Banking Ombudsman's office where proven overcharging exists the Banking Ombudsman
took NO action citing terms of reference andor jurisdiction restrictions.
The reported statement of the Banking Ombudsman, " she said there was no evidence in the flow of complaints to her
office that overcharging was systemic problem " is totally true.
This organisation's experience with the Banking Ombudsman contains clear proof that the "banking watchdog" is protecting
the banks not the bank's customers as required by Government directives to the Banking Industry at the time of the
Banking Ombudsman Scheme's formation.
Mrs Brown's reported statements are reflective of the situation that she is paid by the Banks therefore the old saying "
he who pays the piper, it is he that calls the tune", is very appropriate when considering her constant defence of the
banks poor practices.
Ends.