The Commerce Commission has cleared four banks in an investigation into mortgage break fees.
Break fees are charged by banks to recover the loss when a customer repays their loan early.
The commission says it will not take any further action against ASB, SBS Bank, BNZ and the National Bank.
It says the four charge fees based on the movement in retail interest rates, and it is likely the formula used by them is appropriate under the Credit Contracts and Consumer Finance Act.
The commission is still investigating break fees charged by ANZ, Kiwibank and Westpac.