The Government Seeks To Let Banks Off The Hook With A Retrospective Law Change.

15/4/25

If you have been following what’s been happening between Donald Trump and the American Courts since he was re-elected President, you will be aware there is a significant issue emerging over the separation of powers between the Executive Branch and the Judicial Branch of their system of Government. Put bluntly, is the law the law? Or can Trump just change it whenever it suits his agenda?

On a smaller, but no less ethically important scale, is what is happening in our parliament right now, with the Government having announced plans to amend the Credit Contracts and Consumer Finance Act (CCCFA) in order to soften awards that could be made against the ANZ and ASB banks should a class action law suit being brought against them by Auckland lawyer Scott Russell succeed.