Australian court rules ANZ Bank late fees too high
Headline Legal News
One of Australia's largest banks faces a multimillion dollar payout to thousands of customers after a judge ruled on Wednesday that late payment fees it charged on credit cards were exorbitant.
ANZ Banking Group Ltd. partially lost a class action law suit in the Australian Federal Court brought by more than 43,000 customers who claimed they had been charged excessive fees for years. In some cases the fees were 70 times the cost to the bank of administering late payments.
Justice Michelle Gordon ruled that the bank had been illegally imposing penalties for late payments on credit cards.
She agreed with lead plaintiff Lucio Paciocco's argument that the fees were "extravagant, exorbitant and unconscionable," and represented a breach of contract.
But she also ruled in ANZ's favor by dismissing claims that other types of bank fees were illegal penalties.
It was not clear how much the bank would have to pay back customers who had been charged too much over six years. Lawyers for the bank and customers have until next week to agree on a proposal for repaying customers that the court can rule on.
Related listings
-
Pakistan court dismisses Musharraf medical request
Headline Legal News 02/03/2014A Pakistani court hearing the case against former military ruler Pervez Musharraf on charges of high treason rejected Friday a request that he be allowed to go abroad for treatment, his lawyer and a court official said. Instead, they said, it issued ...
-
Supreme Court debates 'straw purchasers' gun law
Headline Legal News 01/24/2014The Supreme Court on Wednesday debated whether a Virginia man who bought a gun for a relative in Pennsylvania can be considered an illegal straw purchaser when both men were legally eligible to purchase firearms. The justices heard an appeal from Bru...
-
High court rejects Ohio killer's last-minute plea
Headline Legal News 01/16/2014The state made preparations on Wednesday to use a never-tried lethal drug combination to put a man to death for the slaying of a pregnant woman that went unsolved until he inadvertently helped authorities, and the U.S. Supreme Court refused to block ...
Car Accident Lawyers in New Rochelle, New York
If you have gotten in a car accident, it could seriously change your life. Whether the accident was caused by the other party’s fault or a fault of your own, you’ll want to to make sure that you are ready to prepare yourself for any cases that might follow.
Immediately following any type of car accident, it is important to take certain steps to ensure that the courts will treat you with respect and fairly. First, assess your mental and physical condition. Make sure right after the accident, you document any information regarding the accident and situation, it can be of great help later on.
You’ll want to make sure that you seek professional help for any medical conditions you may be experiencing. Do not wait to seek medical attention, you’ll want to make sure that you have documented evidence of the injury that was caused by the accident. The amount of treatment is also taken into consideration in every case.