Judge greenlights penalty for ANZ credit card breaches

Fri, 05 Mar 2021

A High Court judge has ruled the ANZ Bank must pay $280,000 for making false representations about credit card policies. That was exactly the amount sought by the Financial Markets Authority which was responsible for regulating the conduct. The bank had also agreed with that sum, although all parties agreed it was a judge’s call. In a 24 page judgment this afternoon, Justice Matthew Muir agreed. The issue relates to more than 300 customers who were charged for credit card repayment insurance policies that actually offered...

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