The Australian Competition and Consumer Commission (ACCC) has provided interim authorisation for a $50 million bailout of transporter Armaguard from the country’s biggest banks and retailers. The ACCC approved the bailout on Wednesday. The agreement, funded by the Commonwealth, Westpac, NAB and ANZ banks, along with Coles, Woolworths, Wesfarmers and Australia Post, means Armaguard will … Read more
ANZ has been sanctioned for charging fees to the estates of dead clients, in what the industry’s independent monitor has called a serious breach. The Big Four bank was found to have failed to stop charging, or to refund fees charged to, deceased estates after customers’ deaths. It also failed to respond to requests for … Read more
ANZ has agreed to pay $57.5 million to settle a class action lawsuit alleging customers were charged interest on credit card purchases that should have been interest-free. The class action claim, brought by Phi Finney McDonald, alleged ANZ’s credit card interest terms were unfair because they enabled the bank to retrospectively cancel customers’ interest-free periods. … Read more
