14 May 2019

Maori and Pasifika under represented in financial disputes

From The Panel, 4:18 pm on 14 May 2019

The Government approved disputes scheme is where people that are wronged by a bank, insurer, or lender can go to have their disputes resolved. Only ten per cent of the complainants to the Banking Ombudsman were logged as Maori or Pasifika despite making up a fifth of the population. A lack of awareness of their rights is one aspect of this. Peter Cordtz of the Commission for Financial Literacy says many Maori and Pasifika people have specific perspective on money.