Press Releases and Announcements - 02 October 2011
ANZ Bank fees class action steps up a gear tomorrow
A two-week hearing has been set down in Melbourne with Maurice
Blackburn seeking a ruling on the rights of ANZ customers to
protect themselves against exorbitant fees and charges.
Maurice Blackburn's class action principal Andrew Watson said
tomorrow's hearing would mark the first major step in the case
since proceedings were issued on September 22 last year.
"This hearing will answer important questions regarding the
definitions within the contracts between ANZ and its customers of
what is a fee or a charge," Mr Watson said.
"We know that customers who were late paying a credit card or
overdrawing their account were charged $30 or more. We believe that
it did not cost ANZ anywhere near that amount in terms of managing
an overdrawn or late payment on an account.
"We will argue that ANZ has to show that an exception fee is a
reasonable estimate of the loss caused to ANZ when a customer does
not pay on time, or overdraws an account, and that if it cannot
show that, its customers are entitled to a refund. ANZ says these
rules do not apply to it, because the charge is just a fee for a
service offered to its customers.
"This hearing will answer important questions about the rights of
ANZ customers to protect themselves against exorbitant fees and
charges, and about whether banks have a right to charge whatever
fees they want.
"This is the first time that a court has considered the questions
at the heart of this historic case."
Hearing Details: John Andrews & Ors -v- ANZ Banking Group
Limited
When: Monday October 3, 2011
Time: 10.15am
Where: Court Room 8G, Federal Court, Owen Dixon Buildings, Corner
of William and Latrobe Streets, Melbourne
Australia's largest consumer class action will return to the
Federal Court tomorrow with Maurice Blackburn representing around
34,000 ANZ customers who have filed against the bank in protest
against the bank's exception fees.
A two-week hearing has been set down in Melbourne with Maurice
Blackburn seeking a ruling on the rights of ANZ customers to
protect themselves against exorbitant fees and charges.
Maurice Blackburn's class action principal Andrew Watson said tomorrow's hearing
would mark the first major step in the case since proceedings were
issued on September 22 last year.
"This hearing will answer important questions regarding the
definitions within the contracts between ANZ and its customers of
what is a fee or a charge," Mr Watson said.
"We know that customers who were late paying a credit card or
overdrawing their account were charged $30 or more. We believe that
it did not cost ANZ anywhere near that amount in terms of managing
an overdrawn or late payment on an account.
"We will argue that ANZ has to show that an exception fee is a
reasonable estimate of the loss caused to ANZ when a customer does
not pay on time, or overdraws an account, and that if it cannot
show that, its customers are entitled to a refund. ANZ says these
rules do not apply to it, because the charge is just a fee for a
service offered to its customers.
"This hearing will answer important questions about the rights
of ANZ customers to protect themselves against exorbitant fees and
charges, and about whether banks have a right to charge whatever
fees they want.
"This is the first time that a court has considered the
questions at the heart of this historic case."
Hearing Details: John Andrews & Ors -v- ANZ
Banking Group Limited
When: Monday October 3, 2011
Time: 10.15am
Where: Court Room 8G, Federal Court, Owen Dixon
Buildings, Corner of William and Latrobe Streets, Melbourne