The competition regulator has cast doubt on the public interest argument for the proposed $4.9 billion ANZ, Suncorp tie-up, saying Tuesday the nature, likelihood and extent of the touted benefits had not been substantiated.
ANZ has been hit with a $10 million penalty in a case brought by the Australian Securities and Investments Commission alleging the bank’s home loan ‘introducer’ referral program breached credit laws.
A law firm has won its second bid for a group costs order in three class actions against banks over flexible commission schemes after a judge in 2021 rejected what was then the first-ever application for a contingency fee.
Maurice Blackburn has had a second crack at a group costs order in three class actions against banks over alleged flexible commission schemes after a judge in 2021 rejected what was then the first-ever application for a contingency fee.
Westpac has lost a bid to keep group members in the dark about the premiums paid for allegedly worthless consumer credit insurance, information the bank said could inflate expectations about settlements worth $126 million reached in three class actions.
Westpac has objected to several proposed notices going out to group members in a class action over ‘junk’ consumer credit insurance, which three of the Big Four banks have agreed to pay $126 million to settle.
ANZ and Westpac have failed in their bid for a contradictor to weigh in on a contingency fee bid in two class actions, as the law firm that lost the first ever application for a group costs order tries again.
Three of the Big Four banks have agreed to pay a total of $126 million to settle class actions on behalf of up to one million customers who were sold consumer credit insurance.
A judge has hit ANZ with a $25 million penalty in a case by the corporate regulator that alleged the bank short-changed hundreds of thousands of customers to the tune of $200 million.
The Australian and New Zealand Banking Group has hit back at allegations by its former head of money markets that he was sacked for making complaints about sexual harassment by senior managers at the bank and false reporting to the prudential regulator.