Am I a class member?

Pursuant to orders of the High Court, you are an ANZ Class Member if you:

  • Entered into one or more Loans with ANZ during between 6 June 2015 and 28 May 2016 (Refined ANZ Relevant Period) (ANZ Loan);

  • You requested and ANZ made one or more agreed changes to the terms of one or more of your ANZ Loans during the Refined ANZ Relevant Period (for example, re-fixing your interest rate or changing the amounts or frequency of your repayments) (agreed changes);

  • ANZ sent you at least one Loan Variation Letter intended to disclose the full particulars of the agreed changes which, as a result of the Loan Calculator Error, contained incorrect information in respect of one or more of the following.

  • the total amount payable under the ANZ Loan;

    • The total amount of interest payable under the ANZ Loan;

    • The amount of the new regular payments;

    • The total number of payments to be made; and/or

    • The date of the final payment.

(Incorrect Information)

 

We understand that many ANZ customers will not have kept records of changes to their Loans dating back to 2015 and 2016.  If you think you may meet the above criteria, but are unsure, please register and we can help you to work out whether you do. 

It is highly likely that you are and ANZ class member if you received a letter from the ANZ in or around May 2020 informing you that, following discussions with the Commerce Commission, ANZ agreed to make a payment to you in relation to a “loan calculator problem” (which caused the Loan Variation Letters to contain the Incorrect Information – see “About”).  

Lastly, you will not be an ANZ class member if your only post 6 June 2015 loan with ANZ was or is in the name of an entity (such as a company) or in your name in your capacity as a trustee of a family trust (i.e. is not a Loan).

 

If you made agreed changes to a Loan that was entered into before 6 June 2015 between 30 May 2015 and 28 May 2016 (i.e. the ANZ Relevant Period) and received a Loan Variation Letter containing Incorrect Information, you are not currently an ANZ class member, but may be one if the ANZ representative plaintiffs succeed on their appeal of the High Court’s judgment dated 29 July 2022. 

 

See Case Progress. 

 

If you think you are or may be an ANZ class member, but would like to opt out of the ANZ representative plaintiffs’ representative action, you can do so here >.

Pusuant to orders of the High Court, you are an ASB Class Member if:

  •  

  • You had one or more Loans with ASB during the ASB Relevant Period (ASB Loan) (6 June 2015 – 18 June 2019);

  • You requested and ASB made one or more agreed changes to one or more of your ASB Loans during the ASB Relevant Period (agreed changes); and

  • ASB did not provide you with Variation Disclosure in relation to the agreed changes within the prescribed timeframes.

 

We understand that many ASB customers will not have kept records of agreed changes to their ASB Loans as far back as 2015 to 2019 and that it is difficult for ASB customers to work out whether they were provided with compliant Variation Disclosure.  If you think you may meet the above criteria, but are unsure, please register and we will can help you work out whether you do.

 

You may well be an ASB class member if you received an email from ASB in early 2021 informing you that the Bank may not have given you written confirmation of changes to your Loan as required under the CCCFA and that, in recognition of the same, it had decided to pay you either $68 or $135.  

 

Lastly, you will not be an ASB class member if your loans with ASB were or are in the name of an entity (such as a company) or in your name in your capacity as a trustee of a family trust (i.e. are not Loans).

 

If you think you are or may be an ASB class member and would like to opt out of the ASB representative plaintiffs’ representative action, you can do so here >.