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Westpac subsidiary RAMS has flagged a cross-claim against disgruntled franchisees who say their agreements were terminated without proper cause, citing possible breaches of the National Credit Act.
Payday lenders Cigno and BSF Solutions have appealed a decision that found they provided credit without a licence, and rejected the claim that their loan model is analogous to buy now, pay later arrangements that don’t require a licence.
The lead applicant in a class action against former Commonwealth Bank of Australia subsidiary Count Financial has settled individual claims in the case, which alleges the financial advisory firm charged fees for no service.
A law firm that has gone after major banks and the federal government over their climate exposure has trained its sight on the National Australia Bank.
A judge has warned two law firms competing to run a class action against IC Markets over risky contracts-for-difference that it will be held against them if they take a “holding position” on their funding proposals and attempt to negotiate their bids down later.
Mayfair 101’s James Mawhinney has defeated bankruptcy action by the owner of marketing firm 360 Degree Media, who claimed the founder of the beleaguered wealth management business owed him $3.5 million.
A judge has thrown out a self-represented customer’s lawsuit against non-bank lender Latitude Financial after he defaulted on court orders and refused to join tech giants DXC Technology and Crowdstrike to his case over a cyberattack that compromised 14 million customer records.
A Melbourne sex worker has discontinued his discrimination claim against two financial service providers that denied him an EFTPOS machine, on the proviso that the companies will not refuse services to customers engaged in lawful sex work.
A shareholder has dropped her case against ANZ over concerns it was failing to properly manage climate change risk, after the bank publicly committed to treating it as a key risk, later revealing it would stop providing project finance to new or expanded oil and gas projects.
The Australian Prudential Regulation Authority has slapped additional licence conditions on Mercer Superannuation after the prudential regulator identified deficiencies in risk and compliance management by the trustee, which oversees a super fund holding $70 billion of members' money.