$500 compensation for man who may lose house after giving up job over vaccine rules
A man who quit his job over Covid-19 vaccine mandates and subsequently fell into mortgage arrears has been awarded $500 in compensation by his bank. The Banking Ombudsman ruled that while the man missed the window for hardship support, the bank failed to treat him with sufficient reasonableness during his financial distress.
Why it matters
This case highlights the ongoing legal and financial repercussions of pandemic-era employment mandates and the obligations of financial institutions to support customers in arrears.
<p>A man who left his job because of Covid-19 vaccine requirements, and later fell into significant arrears on his home loan, has been awarded $500 in compensation from the bank.</p> <p><b>By Susan Edmonds for </b><a href="https://www.rnz.co.nz/news/business/1382344/500-compensation-for-man-who-may-lose-house-after-giving-up-job-over-vaccine-rules" target="_blank"><b>RNZ</b></a></p> <p>The man complained to the Banking Ombudsman, one of 283 disputes it investigated in its most recent financial year.</p> <p>It said the man bought a house in 2022 with a bank loan, but left his job later that year because of a vaccine requirement. He survived on savings for a few months and then started a consultancy business.</p> <p>But by the next year, he was struggling financially. He asked the bank to align his repayments with his monthly invoicing, which it did.</p> <p>In April 2023, he stopped making payments and was in arrears.</p> <p>He asked to be changed to interest-only payments, but the bank did not respond.
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