Over 170,000 borrowers sue ANZ, ASB banks over interest mistakes

Newshub | 29 September 2021

Up to 174,000 borrowers are suing two of the country's biggest banks, who they claim wrongfully profited off their mortgages.

A class action lawsuit was filed against ASB and ANZ bank at 4pm on Wednesday afternoon, with borrowers vying for a possible multi-million dollar payout.

The suit alleges that because customers were given incorrect information about their home loan repayments, the banks should not have charged them any interest and must repay it.

"This is about accountability and fairness," the plaintiff's lead solicitor Scott Russell told Newshub.

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