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

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.

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

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

The Taranaki farmers bought controversial interest rate swaps from the bank.

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

Kiwibank is cutting 0.20 percentage points off its floating rate mortgages, while ANZ, ASB and Westpac will shave a smaller amount.

Westpac has now joined ANZ bank and cut mortgage rates after the Reserve Bank dropped the OCR this morning.

The measure of economic activity using traffic data slowed down last month.

Economists say the drop was largely seasonal, as construction remained positive.

The legal status of New Zealanders in Australia faces a test after Perth-based Kiwis Charles and Judith Cairns were granted leave

Australia's High Court has dismissed an appeal in a class action suit against fees charged by ANZ Bank.

NZ's banks have shrugged off global market turmoil and depressed dairy sector to make a net profit of $1.2 billion in the first three months of this year.

The Reserve Bank driven the exchange rate down after it signalled a likely cut in the cash rate next month and raised possibility of further reduction.

WATCH: Liam Dann talks to economist Christina Leung and fund manager Matthew Goodson about lending restrictions.

All four big banks are now applying new lending restrictions to home loans - six weeks ahead of the Reserve Bank's official September deadline.

COMMENT: If the Government needed another wake-up call it's got one.

A top banker's dire warning about Auckland's house prices shows there is a "complete crisis" in the property market, economist Shamubeel Eaqub says.

New Zealand firms turned optimistic about the state of the economy in the June quarter.

Jetstar employees are facing at least a day with no pay due to a glitch at ANZ.

ASB is the fourth major bank to impose lending restrictions on foreign home buyers.

BNZ has joined ANZ Bank and Westpac's local unit in restricting mortgage lending for foreign property buyers.

Two of our biggest banks will no longer lend to overseas-based buyers of New Zealand property.

About 80 per cent of residential subdivisions get some or all of their funding from one of the four main banks, one sector chief says.

ANZ says its KiwiSaver members took our $148m of retirement savings to buy their first home last year.

ANZ's operation in the country is reportedly reducing exposure to struggling industrial sectors and "cherry-picking" higher quality customers.

ANZ New Zealand posted a drop in half-year profit as expenses and bad debts rose, while margins were squeezed amid a fiercely competitive lending market.

New Zealand consumer confidence rose in April as Kiwis remained optimistic about the state of the economy.

New Zealand shares fell, dragged down by dual-listed Australia & New Zealand Banking Group and Westpac Banking Group.