Three banks have been committed to stand trial after pleading not guilty to criminal charges stemming from an alleged cartel agreement reached in a $2.5 billion ANZ share placement, with the closely watched case now moving to the Federal Court two-and-a-half years after it was filed.
ANZ is gunning for a lawsuit alleging it dismissed a former director of trading after he complained about rate-rigging to be thrown out before trial.
A judge has sided in part with QBE Insurance and pared back a class action over allegedly worthless add-on insurance sold by ANZ to credit card and personal loan customers.
A judge has ordered Australia and New Zealand Banking Group to pay $10 million in penalties after finding that the bank engaged in unconscionable conduct and breached its obligations by slugging customers $3 million in periodic payment fees it was not entitled to charge.
An IOOF subsidiary sued over “bad advice” has failed in its bid to stop ASIC from using documents from the banking royal commission as evidence in the case, with a judge saying the company had already provided the material to the financial watchdog without objection.
Insurer QBE wants to downsize a massive class action brought against it and banking giant ANZ over the sale of allegedly worthless add on insurance.
A local court magistrate overseeing the ANZ criminal cartel case has denied a bid by prosecutors to be given twice the length of time typically allotted to parties for case conference discussions, saying the sooner the proceedings can be transferred to the Federal Court the better.
Australia’s largest financial services institutions have paid or offered to pay more than $882 million to remediate customers affected by their fees for no service conduct, the Australian Securities and Investment Commission has revealed.
A judge has accused the parties in a class action against ANZ over the sale of allegedly worthless insuranceĀ of āputting their pens downā and failing to advance the case until a strike out application is resolved.
Australia and New Zealand Banking Group and Commonwealth Bank of Australia have lost a third attempt to escape a rate-rigging class action in the US, with a judge calling the banks’ arguments unpersuasive.