ANZ Bank Fees Class Action
The Proceedings
In September 2010 the Andrews Proceeding was filed in the Victorian Registry of the Federal Court of Australia. The Paciocco Proceeding was filed in March 2013, also in the Victorian Registry of the Federal Court of Australia. Both proceedings were subsequently consolidated to form, in effect, a single proceeding. Although many of the claims that were originally pursued in the ANZ Bank Fees Class Action were ultimately unsuccessful, the Applicants allege that:
a. in respect of PPN Fees that were charged by ANZ to customers during the period 1 January 2008 to 23 February 2016 (inclusive), and were refunded to customers as part of the Remediation Program, the additional amount that was paid to customers by way of interest compensation was inadequate; and
b. in respect of all other PPN Fees that were charged by ANZ to customers during the period 1 August 2003 to 23 February 2016 (inclusive) and were not refunded to customers as part of the Remediation Program, those fees should be refunded to customers (together with an additional amount of interest compensation).
Settlement
On 6 December 2019, Justice Middleton of the Federal Court of Australia approved settlement. The settlement was without admission of liability by ANZ.
Settlement distribution was administered by Maurice Blackburn Lawyers.
The class action has now been finalised and the settlement distribution has been completed, which means that claimants are no longer able to claim any entitlement.
Further Information
If you would like further information about the ANZ Bank Fees Class Action, please contact Omni Bridgeway via email at [email protected].