ANZ is preparing for the conclusion this week of a long running legal battle over bank fees as the High Court hears a final appeal from lawyers representing ANZ customers in a multimillion dollar class action against the bank; this case is being watched closely by banking and legal circles as legal action against seven other big banks, including Westpac and the Commonwealth Bank, which could be worth hundreds of millions of dollars, hinges on the result of the case. ANZ Bank has maintained the fees were legal and the costs to the bank of a customer being late were greater than the 50c to $5.50 range accepted by the Federal Court in 2014. The court heard that the banks had been ordered to pay $US1 billion ($A1.06 billion) in damages after they were found guilty last year of breaching consumer protection laws when it came to
ANZ is preparing for the conclusion this week of a long running legal battle over bank fees as the High Court hears a final appeal from lawyers representing ANZ customers in a multimillion dollar class action against the bank; this case is being watched closely by banking and legal circles as legal action against seven other big banks, including Westpac and the Commonwealth Bank, which could be worth hundreds of millions of dollars, hinges on the result of the case. The court heard that the banks had been ordered to pay $US1 billion ($A1.06 billion) in damages after they were found guilty last year of breaching consumer protection laws when it came to