Hundreds of thousands of bank customers stand to benefit from a sweeping new class action over credit card late fees worth hundreds of millions of dollars, to be lodged by law firm Maurice Blackburn today.
The lawyers organising a class action against banks over excessive fees say Kiwibank customers have three weeks to come forward to be part of the claim.
The Australian Financial Review may think that a late fee of $35 on a credit card bill is “unobjectionable”, but millions of Australians beg to differ (“An extravagant ANZ judgment”, February 10).
Australian Federal Court judge Michelle Gordon favoured on Wednesday bank customers who lodged a class action lawsuit against ANZ over excessive charges on late payment fees for credit cards.
The ANZ bank may be liable to pay its customers "tens of millions of dollars", according to the law firm that led a successful class action against the bank over its fees.
A bank charges customers A$35 every time customers fail to make the monthly payment on their credit card by the due date. An airline charges $10 or more for printing boarding passes if passengers forget to print their own. (Some European airlines have charged much more). A supermarket in an inner-city…
Law firm Maurice Blackburn has produced a range of documents obtained from the ANZ bank, which it says shows the bank was using unfair customer fees to prop up its profits.
IN early 2009, as the financial system convulsed after the Lehman Brothers collapse, property developer Rory O'Brien still felt his luxury Airlie Beach resort in the Whitsundays was secure.
