Finance

ANZ, ASB sued in multimillion dollar class action

Jenny Ruth
Wed, 29 Sep 2021

ANZ, ASB sued in multimillion dollar class action
Lawyer Scott Russell is solicitor to the class action claim. (Photo: Supplied)
Jenny Ruth
Wed, 29 Sep 2021
A new class action targeting ANZ and ASB banks could hold them liable for many millions of dollars for breaches of consumer finance legislation that affected more than 150,000 people.In both cases, the banks reached settlements earlier this year with the Commerce Commission, which had accused them of failing to be responsible lenders because they failed to properly disclose information on loan variations.ANZ had already paid its affected customers, estimated at more than 100,000, $6 million but agreed to pay a further $29.4m, which the commissi...

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