Australian banks face class actions
August 12 , 2014
Open class actions have been filed against five Australian banks — ANZ, St George, Citibank, Westpac, and BankSA — over the issue of late credit card fees, as per media reports.
The fees are believed to run into hundreds of millions of dollars involving hundreds of thousands of customers.
Maurice Blackburn, a legal firm in Australia, has initiated the legal proceedings in the New South Wales Supreme Court. The firm plans to extend the action and a total of nine financial institutions are likely to be targeted.