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Macquarie’s car loan class action settlement wins court OK
Dion Fahey 2025-08-20 11:29 pm By Christine Caulfield

A judge has signed off on Macquarie Leasing’s settlement in one of three class actions against lenders over flexible commissions paid to car dealers.

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NAB to take $130M hit after discovering staff underpayments
Employment 2025-08-18 11:44 pm By Julia Kanapathippillai

The National Australian Bank says it will take a $130 million hit after issues with its payroll system led to staff being underpaid.

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ASIC to seek winding up orders against property developer ALAMMC
Financial Services 2025-08-18 11:40 pm By Julia Kanapathippillai

The corporate cop can revise its action against Gold Coast property developer ALAMMC to seek winding up orders after concerns have emerged about misuse of $70 million in investor funds.

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Court OKs $59M settlement in rate-rigging class action against banks
Class Actions 2025-08-15 11:58 pm By Sam Matthews

A judge has signed off on a $59 million settlement in a class action accusing five banks of foreign exchange rate-rigging, while bemoaning the failure of successive attorneys-general to advance reforms clarifying the court’s power to make class closure orders.

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Mastercard says privilege shouldn’t be lost after junior lawyer’s ‘genuine mistake’
Competition & Consumer Protection 2025-08-15 11:46 pm By Cindy Cameronne

Mastercard says legal professional privilege remained over a document after a junior lawyer “inadvertently” sent it to the ACCC in 2020 while the credit card giant was trying to dissuade the regulator from continuing an investigation into alleged anti-competitive conduct.

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ANZ trader seeks to delay start of trial after discovery dump
Employment 2025-08-15 11:53 pm By Julia Kanapathippillai

A former ANZ trader that sued the bank five years ago for allegedly sacking him for complaining about the bank’s attempted manipulation of the bank bill swap rate wants the trial date pushed out after receiving thousands of documents from the bank.

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eToro can rely on late evidence in novel ASIC case over CFDs
ASIC 2025-08-14 11:23 pm By Julia Kanapathippillai

Online investment platform eToro has won its bid to rely on late expert evidence in ASIC’s first-ever action alleging breach of obligations in designing and selling financial products over high-risk contracts for difference.

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NAB hit with $15.5M penalty for mishandling financial hardship requests
Financial Services 2025-08-13 11:42 pm By Christine Caulfield

National Australia Bank and its home loan lender subsidiary have been ordered to pay a $15.5 million penalty after admitting to mishandling hundreds of customer hardship applications.

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Payday lender directors ask High Court to clarify accessorial liability
Appeals 2025-08-12 11:46 pm By Cindy Cameronne

The directors of payday lenders Cigno and BSF have filed for special leave to appeal a decision that found them liable for unlicensed credit activity, saying the case raises fundamental questions about the scope of accessorial liability.

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Ex-iSignthis director to appeal $1M fine, disqualification
Appeals 2025-08-11 11:05 pm By Cat Fredenburgh

Former director of fintech iSignthis, John Karantzis, plans to appeal a ruling that slapped him with a $1 million penalty and disqualification orders for allegedly providing misleading information to shareholders. 

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