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Direct bank Members Equity has pleaded guilty to criminal charges over misleading representations to customers, but a judge has questioned the bank’s submissions in favour of a low penalty, noting it was only “happenstance” that a systems glitch didn’t lead to worse outcomes for customers.
The corporate regulator has filed a suit against fintech giant PayPal over a term in its contracts with small businesses that sets a deadline for complaints about excess fees.
The Australian Securities and Investments Commission has won its case against Finnish microloan company Ferratum alleging it overcharged vulnerable, low-income consumers during the height of the COVID-19 pandemic.
The receivers of Melissa Caddick’s estate have reached an in-principle agreement with the Sydney frauster's husband and son in relation to the division of a small number of remaining assets.
ASIC has brought court action against Westpac for allegedly dropping the ball on financial hardship claims by customers, some of whom had property seized or declared bankruptcy while waiting for a response from the Big Four bank.
Fintech Tyro has taken an authorised representative to court for allegedly breaching its contractual obligations by pushing a competing payment system on merchants.
Westpac has settled its claims against the father of Forum Finance director Vince Tesoriero, who along with fellow director Bill Papas is accused of perpetrating a $400 million fraud against the bank to fund their lavish lifestyles.
Disgraced Banksia class action barrister Norman O'Bryan has been struck from the roll of legal practitioners in South Australia for his part in what has been described as the darkest chapter in Victoria's legal history.
ASIC wants to re-run its case against investment group M101 Nominees and founder James Mawhinney after admitting it made errors at its initial trial, arguing for new fines and disqualification orders on remittal by the Full Court, a judge has heard.
NAB will fight a bid by a $78 million class action over the collapse of Walton Construction to add serious fraud allegations in the four-year-old case, which a judge said has been “mired in a procedural mess”.