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Commonwealth Bank, Westpac’s BT face potential class actions over insurance ‘rort’
Class Actions July 31, 2020 4:16 pm By Christine Caulfield

Shine Lawyers is investigating two new class actions against Commonwealth Bank of Australia and Westpac’s BT Funds Management over allegedly excessive insurance premiums, a week […]

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Westpac’s anti-money laundering woes worsen
Financial Services July 28, 2020 1:37 pm By Cat Fredenburgh

Westpac anti-money laundering compliance troubles continue to worsen, with the bank reporting an additional 365,000 incomplete or inaccurate threshold transaction reports to AUSTRAC. The bank […]

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ASIC won’t appeal Westpac responsible lending case to High Court
Financial Services July 22, 2020 2:56 pm By Christine Caulfield

ASIC has dropped its fight with Westpac over the bank’s financial assessment of home loan borrowers following political pressure, citing the “challenging economic circumstances”. The […]

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Westpac hit with class action over banned car loan scheme
Class Actions July 16, 2020 10:35 pm By Cat Fredenburgh

Westpac has been hit with a class action over a “shonky” car loan scheme, in what is the first class to be filed in Victoria […]

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Westpac defends AUSTRAC disclosures in shareholder class action
Class Actions July 15, 2020 7:02 pm By Miklos Bolza

Westpac has denied claims in a shareholder class action filed in the wake of AUSTRAC proceedings alleging 23 million breaches of anti-money laundering and counter-terrorism […]

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Westpac faces class action over car loan ‘rort’
Class Actions July 14, 2020 7:59 pm By Alison Eveleigh

Westpac is facing a class action over an allegedly dishonest car loan scheme that was eventually banned by the corporate regulator. The proceedings, to be […]

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Westpac’s call for update on class action funding shot down by judge
Financial Services July 10, 2020 5:13 pm By Miklos Bolza

A judge on Friday dismissed Westpac’s bid for an update from litigation funder JustKapital as to whether it continues to financially back a class action […]

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Westpac owes $8M to underpaid workers
Employment July 3, 2020 11:35 pm By Cat Fredenburgh

Westpac has become the latest company to discover it shortchanged workers, announcing it will pay $8 million to around 8,000 current and former staff who […]

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Westpac could face more AUSTRAC claims as child exploitation scandal deepens
Financial Services June 12, 2020 10:04 pm By Cat Fredenburgh

Westpac is facing the possibility of more claims in proceedings brought by AUSTRAC over anti-money laundering breaches, with the regulator seeking information on 272 customers […]

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Former Beem It boss drops lawsuit against payments fintech, CBA
Employment June 12, 2020 12:49 pm By Christine Caulfield

The former CEO of Beem It has discontinued her legal claims against the payments fintech and its co-owner, Commonwealth Bank of Australia, only days after […]

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