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A judge ordered Westpac's CEO to front court over the "unconscionable" actions of mortgage subsidiary St George Bank in refusing to reverse an adverse credit record from a customer short $44.11 on her mortgage payments.
Class action settlements hit major milestones last year, with the year’s largest settlements totalling $1.6 billion and one case resolving for a historic $548.5 million.
Westpac has paid back $50 million plus interest and super to 47,000 current and former staff who were underpaid over an 11-year period.
Defunct Westpac home loan unit RAMS has been hit with a $20 million penalty after admitting to widespread misconduct at its franchises over a four-year period.
A judge has raised concerns about whether an agreed-to $20 million penalty against Westpac's defunct home loan subsidiary RAMS is enough to deter other lenders from breaking credit rules.
Westpac has lost a dispute with a part-time employee who asked to work from home to care for two young children and was told by a manager that “working from home is no substitution for childcare”.
A judge has signed off on Westpac's $130 million settlement in a class action over flexible commissions paid to car dealers, bringing to an end three cases brought by Maurice Blackburn against lenders.
Westpac’s defunct mortgage unit RAMS has accused a class action by former franchisees of attempting to “hijack” civil penalty proceedings by the corporate regulator by seeking to intervene in the case.
Westpac can shield reports prepared by Allens from a class action over money laundering compliance, with a judge finding they were produced predominantly in defence of AUSTRAC action that preceded the case.
Former franchisees involved in a class action against RAMS are seeking to intervene in ASIC civil penalty proceedings against the defunct Westpac subsidiary.