ANZ Group agrees to settle A$57.5m class action suit over interest charged on credit cards.
Australia's ANZ Group has agreed to settle a class action lawsuit for A$57.5 million ($37.44 million) over interest charged on personal credit cards. The lawsuit, brought by law firm Phi Finney McDonald in 2021, alleged "unfair contract terms and unconscionable conduct" by ANZ in charging interest on credit card purchases that should have been interest-free between July 2010 and January 2019. The settlement, without admission of liability, is subject to court approval.
March 24, 2024
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