ANZ settles Aussie class action for $61m
The settlement brings to around $130m the amount the bank has paid in fines and settlements on consumer claims in recent years.
The claim alleged there was no way customers could understand the retrospective charges.
Banking group ANZ has reached an out of court settlement over a class action relating to credit card interest and has agreed to pay A$57.5 million ($61m).
The class action was brought by law firm Phi Finney McDonald in 2021 on behalf of credit card holders who were charged retrospective interest in
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