ANZ says watchdog plans action for wrongful fee charges - News Daily

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Wednesday, July 24, 2019

ANZ says watchdog plans action for wrongful fee charges

(Reuters) - Australia and New Zealand Banking Group Ltd said on Thursday the country's corporate regulator plans to file civil penality proceedings against the bank for wrongful charging of fees. ANZ said the Australian Securities and Investments Commission (ASIC) had informed the bank that the proceedings related to the charging of fees for periodical payments in certain cases before February 2016. The fees were the subject of a class action which was settled in December 2018 for A$1.5 million ($1.05 million), pending court approval, the bank said in a statement.

The post ANZ says watchdog plans action for wrongful fee charges appeared first on Firstpost.



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