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Showing 31 - 40 of 356 results for "Credit card"

ANZ to pay $42m in insurance lawsuit

CASSANDRA BALDINI  |  MONDAY, 14 NOV 2022
ANZ has agreed to pay $42 million to settle a class action regarding consumer credit insurance (CCI) products. Commonwealth Bank has also reached a settlement for a similar matter. Slater and Gordon filed the class action against ANZ, OnePath Life ...

ANZ told to pay $25m for 20-year failure

JAMIE WILLIAMSON  |  THURSDAY, 27 OCT 2022
ANZ has been ordered to pay a $25 million penalty for failing to provide banking customers with promised benefits for about two decades. The Breakfree package was introduced in 2003 and was offered with several ANZ products including home loans, credit ...

Financial literacy in Australia drops by almost 10%

CASSANDRA BALDINI  |  TUESDAY, 6 SEP 2022
New data has revealed that more than a third of Australians are financially illiterate. Greater Bank and the University of Newcastle surveyed 575 women and 536 men aged from 18-90 years. The joint report titled: Financial Wellbeing and General Life ...

Active Super kickstarts reward program

ANDREW MCKEAN  |  TUESDAY, 21 JUN 2022
Active Super has launched a Super Booster reward program to accelerate the growth of members' super balances. The Super Booster reward program is a 'set and forget' tool for members to top-up their super balances with eligible retail purchases. ...

ANZ sued by ASIC

CASSANDRA BALDINI  |  MONDAY, 30 MAY 2022
... 165,750 ANZ customers were charged cash advance fees and interest for withdrawing or transferring money from their credit card accounts based on an incorrect account balance, including on the ANZ website, ANZ App and at ATMs. ASIC further alleged that ...

Six cases brought against Westpac now finalised

JAMIE WILLIAMSON  |  FRIDAY, 22 APR 2022
... appropriately disclosed. For this, Westpac was fined $6 million. The other cases related to the on-selling of consumer credit card and flexi-loan debt with incorrect interest rates; charging of fees to deregistered company accounts that still held up ...

Westpac fined $1.5m for mis-selling insurance

ANDREW MCKEAN  |  FRIDAY, 8 APR 2022
... to each customer to assert the right to payment of insurance premiums and debited these amounts from the customer's credit card or facility. The Court found Westpac didn't have the right to these payments and therefore customers were not liable to pay ...

Global alliance calls for BNPL regulations

CHLOE WALKER  |  THURSDAY, 17 MAR 2022
CHOICE has joined consumer groups from around the world in calling for urgent action on buy now, pay later credit providers. The global statement released by Consumers International is supported by 11 consumer organisations from nine countries. It comes ...

ASIC sues ANZ in final civil RC case

JAMIE WILLIAMSON  |  THURSDAY, 9 DEC 2021
The big four bank is being sued by the regulator for failing to provide some of the benefits promised to customers who hold offset transaction accounts or 'Breakfree' packages in conduct dating back more than two decades. In what is the last ...

Backlash after 'unprecedented' ASIC action against Westpac

ELIZABETH MCARTHUR  |  THURSDAY, 2 DEC 2021
... across its now defunct advice licensees; continuing to charge fees on deregistered company accounts; and selling on credit card and flexi-loan debt with incorrect interest rates. Westpac reached an agreement with ASIC to resolve all six matters, has ...