ANZ agrees to $85 million settlement over alleged predatory car loans
Banking giant ANZ has agreed to an $85 million settlement over allegedly predatory practices in its former car loans business.
Maurice Blackburn Lawyers brought three separate class action lawsuits against ANZ, Westpac and St George Finance and Macquarie Leasing for their alleged misuse of flex commission arrangements, which were outlawed by the ACCC in November 2018.
Flex commission arrangements allowed car dealers to set interest rates and loan terms on car loans.
Comments
