ASB fighting 'opt-out' class action lawsuit in court of appeal

(Image: NZME)

Wed, 12 Jul 2023

ASB Bank was in the court of appeal on Tuesday, to try and prevent a class action lawsuit against both it and ANZ Bank NZ from covering all affected customers whether they ask to be or not.The main case, which is yet to go to trial, centres on claimed breaches of the Credit Contracts and Consumer Finance Act 2003 (CCCFA) by the banks when changing the conditions of their consumer loans.In a July 29, 2022, high court ruling, Justice Geoffrey Venning agreed that representatives of both ASB and ANZ customers were able to bring class action cases a...

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