Original article by David Ross
The Australian – Page: 15 & 18 : 26-Mar-24

The ANZ Bank will pay $57.5 million to settle a class action brought by Phi Finney McDonald, with the law firm having alleged that the bank’s credit card had incorrectly charged customers. Phi Finney McDonald claimed the ANZ had told customers that they could pay repay as much or as little of the balance of their credit cards as they wanted, but did not warn them that if they did not repay the full balance that they would be charged interest against the full amount borrowed. The action was backed by Woodsford Litigation Funding, with the settlement due to be approved by the federal court in August.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, PHI FINNEY McDONALD PTY LTD, FEDERAL COURT OF AUSTRALIA