ANZ agrees to settle credit cards class action

ANZ today announced it has reached an agreement to settle a class action brought against it by Phi Finney McDonald in 2021.

The class action related to certain interest charged on certain ANZ personal credit cards in the period from 1 July 2010 to 1 January 2019.

ANZ will pay $57.5m in the settlement, which is covered by a provision held at 30 September 2023. The settlement is without admission of liability and remains subject to court approval.

Approved for distribution by ANZ’s Continuous Disclosure Committee

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