The Royal Bank of Scotland has agreed to pay $12.58 million to settle a consumer class action brought on behalf of purchasers of its financial products.
The High Court of Australia has rejected an appeal by the Port of Newcastle to overturn a decision that declared the shipping channel at the port and gave the Australian Competition and Consumer Commission regulatory power to settle access disputes.
The Australian Competition and Consumer Commission will reconsider its approach to penalties for competition law breaches, in the wake of a report that found companies faced substantially lower penalties in Australia than in countries with similar competition regimes.
Telstra could pay as much as $10 million in penalties after admitting it misled customers by billing them for mobile phone apps they unwittingly bought.
Australia’s consumer regulator said Friday that protecting franchises from unfair business practices will continue to be a top priority this year, one day after the Senate voted to establish an inquiry into the franchising industry.
The Australian government is mulling whether to extend unfair contract laws to insurance contracts, Finance Minister Kelly O’Dwyer said.
Three units of Vocus have entered agreements with the ACCC to refund customers for promising NBN speeds they couldn’t deliver.
Zoetis is facing a class action from horse owners who say the pharmaceutical company made misleading claims about its Hendra virus drug.
The head of Australia’s consumer regulator says the agency will look at whether Facebook is misleading users about how it collects and uses their data, in light of revelations that millions of Facebook users unknowingly had their data harvested by political research firm Cambridge Analytica.
Life insurer TAL Direct Pty Ltd has agreed to refund 1,200 funeral insurance customers after telling ASIC it violated the terms of their policies by failing to turn off cost of living increases.