The New Zealand Government may be getting cold feet about putting its public sector banking contract, which covers many government departments, out to tender. Westpac has held the contract since 1989. Fairfax Media reports that the Government is concerned the cost of tendering the contract could outweigh the benefits, since it already negotiates periodic fee cuts with Westpac, and that transitional costs may exceed any savings. The lack of such a tender has been the subject of parliamentary scrutiny by the Greens. Members of the Police Credit Union in New South Wales will meet today to vote on plans to change the name of the credit union to Police Bank. Six other credit unions and building societies have made the shift, and one other has APRA approval to do so. The High Court will hand down its ruling on a class action over penalty fees tomorrow. In December last year, the Federal Court ruled that late payment fees were capable of being penalties but found for ANZ on other fees. The plaintiffs and ANZ agreed to escalate the dispute over this point of law direct to the High Court, which heard submissions on the case only three weeks ago.