Biggest class action in history against major Australian Banks

This week, litigation funder IMF Australia is financing a class action against Commonwealth Bank, ANZ, NAB and Westpac on the basis that ‘exception fees’ charged by the banks including late fees and dishonour fees were out of proportion to the actual cost charged by the banks.

At todays 14 May 2010, 40,000 Australians have signed on as claimants.

Full article available here.

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