ANZ deputy chief executive Graham Hodges has written to politicians offering to deal with any victims of the collapsed Timbercorp who lost money after being "poorly advised" by one of the bank's financial planners.
In response to ASIC’s concerns that consumers may have been misled by advertising that promoted an ANZ Visa gift card when applying for income protection insurance, Australian and New Zealand Banking Group Limited (ANZ) will waive fine print qualifications to the offer and have started to send gift cards to over 700 consumers.
Earlier this month the Federal Court gave a boost to several class actions against banks when it ruled late fees charged by ANZ were penalties. It begs the question...which other industries that charge late fees will become targets for class actions?
Big banks could be forced to refund more than $55 million to their customers, after the Federal Court found ANZ Bank had charged "extravagant, exorbitant and unconscionable" late payment fees on credit cards.