Melbourne-based ANZ has settled on a class action suit related to credit card interest charged under allegedly unfair contract terms.
ANZ has agreed to pay A$57.5 million ($37.7 million) to settle a class action suit related to interest charged on personal credit cards, according to a statement. The case was brought against the Australian lender by law firm Phi Finney McDonald in 2021 which previously alleged «unfair contract terms and unconscionable conduct» in charging interest between July 2010 and January 2019.
«The settlement is without admission of liability and remains subject to court approval,» the bank added.
