Latest from Banking and finance

ANZ proposing branch closures

ANZ bank, the country's largest bank, could be closing branches around New Zealand.

Competition for bank transfers heats up

One of Skype's founders has launched a global money transfer business - and it's set up shop in NZ.

Many KiwiSavers unaware of fees and returns

New research shows many Kiwis don't know how much they are paying for KiwiSaver or what returns they are getting.

Bank says sorry for anti-arts ad

Wells Fargo has been forced to apologise after infuriating the arts community by suggesting they should take up more serious careers.

ANZ to refund $28.8m to customers

ANZ has started to refund $28.8 million to more than 390,000 accounts after the bank failed to disclose when some fee payment fees would apply.

Tighter bank loans may throttle housing

Auckland property developers fear that a sudden tightening of bank lending may "throttle" new housing projects despite the city's desperate housing shortage.

ASB KiwiSaver exits dirty investments

ASB has joined Westpac and ANZ in confirming it will exit investments with exposure to manufacturers of cluster munitions, landmines and nuclear weapons.

Fed bans, fines former trader in FX probe

Christopher Ashton was accused of using electronic chat rooms to manipulate currency pricing benchmarks.

Small towns stranded if branches close

Three towns will be left with no bank branches if Westpac goes ahead with a raft of planned closures.

Foreigners buying 29pc of homes - lawyer

A lawyer says foreigners buy 29 per cent of New Zealand properties, not 3 per cent as reported in official state data.

KiwiSaver boss calls for ethics review

After revelations that some major KiwiSaver funds are invested in controversial companies one director is calling for an ethics review.

Home loans fall ahead of LVR rules

The number of home loans and amount being borrowed has dipped ahead of further lending restrictions, but one mortgage broker says

BNZ message mix-up worries customers

Some customers of the BNZ have received incorrect messages from the bank telling them their accounts are thousands of dollars in the red.

Rate hike tipped as US economy nears Fed goals

A 2016 rate hike from the Fed is still under consideration, as the U.S. economy is close to meeting the central bank's goals.

Quick action over KiwiSaver holdings

Two major KiwiSaver providers are reviewing or planning to divest controversial holdings in clusterbomb manufacturers.

Record low home loan rate released

HSBC has slashed its two year fixed home loan rate to a 50 year record low 3.79 per cent