Stuff | 29 September 2021
ANZ and ASB are facing a class action lawsuit from people with mortgages and personal loans who claim they were wrongly charged millions in interest and fees.
The two banks were served on Wednesday with notice of the legal action, said Auckland lawyer Scott Russell of Russell Legal.
The move followed both banks admitting in settlements with the Commerce Commission Te Komihana Tauhokohoko that they had failed to take the necessary care required of a responsible lender, said Russell, who was taking the case with funding from litigation lenders CASL and LPF Group.
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