ASB settles CCCFA class action for hefty $135.6m as ANZ fights on: lawyer

ANZ poised to fight class action as ASB folds. (Image: NZME)

Tue, 07 Oct 2025

A class action over alleged breaches of the Credit Contracts and Consumer Finance Act will continue against high-street lender ANZ, even as rival ASB arrives at a hefty $135.6 million settlement.ASB said it agreed to the settlement without admission of either liability or wrongdoing. It ended a four-year class action centred on disclosure obligations between 2015 and 2019.In July, BusinessDesk reported that both ANZ and ASB were offered the opportunity to settle the class action for a maximum of $309m. ANZ immediately rejected that offer,...

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