ANZ and ASB face multimillion-dollar class action lawsuit over lending failures

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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