But this was overturned last year when the full bench took into account a much broader range of potential costs to the bank, including the impact on provisioning for bad debts and regulatory capital. 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 43,500 other big banks, including the Commonwealth Bank and Westpac , which could be worth hundreds of millions of dollars , hinges on the result of the case. The debate rests on whether the bank imposed unfair penalties when it charged customers multimillion dollar for being late paying their credit card bill; the Commonwealth Bank has maintained the fees were legal.
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 43,500 other big banks, including the Commonwealth Bank and Westpac , which could be worth hundreds of millions of dollars , hinges on the result of the case. The debate rests on whether the bank imposed unfair penalties when it charged customers multimillion dollar for being late paying their credit card bill; the Commonwealth Bank has maintained the fees were legal.