ANZ has agreed to pay $240 million in penalties to resolve four separate cases by the corporate regulator, including a record $80 million penalty for unconscionable conduct in its dealings with the federal government.
The Finance Sector Union has accused ANZ of being a “bank in crisis”, launching a case in the Fair Work Commission over its handling of mass job cuts.
In the third decision approving an unaltered group costs order at the resolution of a class action, a judge has OK’d an $85 million settlement by ANZ, representing a $21 million payday for Maurice Blackburn.
With three months until trial, a judge has knocked back a former ANZ trader’s bid to appeal a decision which barred him from amending his case for what would have been the thirteenth time.
ANZ has sued several insurers seeking coverage for two class action settlements totalling $117 million, plus defence costs, in cases stemming from the banking royal commission.
Court approval of a $50 million settlement in a class action against ANZ and superannuation trustee OnePath has been delayed, after 22,000 group members were excluded from an opt-out notice due to a problem with OnePath’s computing process.
APRA has increased ANZ’s capital add-on requirement by $250 million to account for operational risks, after a report highlighted “persistent and prevalent” problems at the bank.
An ANZ client who alleges an investment advisor accessed her private banking records has been ordered to replead her case.
A former ANZ trader who was allegedly axed after complaining about manipulation of the bank bill swap rate has largely lost his application to amend his case.
A long-running discrimination case by a former ANZ lawyer who alleged the bank’s work environment was hostile to pregnant women has been thrown out by VCAT.