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Judge OKs $49.5M settlement in NAB class action
Financial Services 2020-05-08 6:29 pm By Alison Eveleigh

A judge has signed off on a $49.5 million settlement in a class action against National Australia Bank over ‘junk insurance’, including millions in fees […]

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Profits a big motivator for big four banks in refusing to pass on interest rate cuts, ACCC says
Competition & Consumer Protection 2020-04-27 9:35 pm By Christine Caulfield

The Big Four banks were trying to shore up their profits when they refused to pass on home loan interest rate cuts to consumers in […]

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Group members to get policy cancellation info in NAB insurance class action settlement
Class Actions 2020-03-30 9:02 pm By Alison Eveleigh

A judge overseeing a class action against National Australia Bank over ‘junk insurance’ has ordered that potential group members be given information about cancelling the […]

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Judge spots ‘fundamental flaw’ in NAB insurance class action settlement
Class Actions 2020-02-25 10:25 pm By Miklos Bolza

A judge has questioned whether he should sign off on a $49.5 million settlement in a class action against National Australia Bank over allegedly worthless […]

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NAB’s ‘grossly deficient’ systems prompted ASIC’s second fees-for-no-service case, court hears
Financial Services 2020-02-18 2:10 pm By Miklos Bolza

National Australia Bank’s “grossly deficient” systems and failure to swiftly bring its processes into compliance prompted ASIC to launch its second fees-for-no-service case against the […]

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Banks have offered $750M in fees for no service refunds so far, ASIC says
Financial Services 2020-02-11 11:22 pm By Cat Fredenburgh

Six of Australia’s biggest financial services institutions have so far paid or offered $749.7 million in compensation to hundreds of thousands of customers who were […]

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‘Bad publicity’ no reason to stay ASIC ban of ex-NAB adviser, tribunal says
Financial Services 2020-01-29 4:27 pm By Miklos Bolza

A former Adelaide financial advisor that worked for a subsidiary of National Australia Bank has lost his bid for a temporary stay of a five-year […]

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Royal commission class actions keep rolling in, one year after Hayne report
Financial Services 2020-01-23 7:13 pm By Cat Fredenburgh

A year after Commissioner Kenneth Hayne released his scathing report, companies in the financial services sector are still facing fresh class actions over conduct aired […]

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NAB units face class action over ‘regrettable mismanagement’ of super accounts
Class Actions 2020-01-22 1:00 pm By Miklos Bolza

Two National Australia Bank units have been hit with a class action alleging they violated their duties as superannuation trustees by allegedly failing to transfer […]

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NAB to face $750M in fines from AUSTRAC and ASIC actions, analysts predict
Financial Services 2020-01-10 2:04 pm By Miklos Bolza

National Australia Bank will be hit this year with an estimated $750 million in fines stemming from its fees for no service conduct and potential […]

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