ANZ vows to fight CCCFA class action despite ASB settlement

Deal ends four-year class action on disclosure obligations. (Image: Getty)

Wed, 08 Oct 2025

ANZ has vowed to continue fighting a class-action lawsuit alleging breaches of the Credit Contracts and Consumer Finance Act, even as rival ASB has paid a potentially record $135.6 million to settle the issue.“ANZ NZ will continue to defend its case. Our position hasn’t changed. The potential consequences under the current law are disproportionate and not aligned with any actual harm caused,” ANZ said in a statement.Auckland law firm Russell van Hout had taken a class action against ANZ and ASB over alleged breaches of the Cre...

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