Hundreds of thousands of ANZ, Commonwealth Bank and Westpac customers will be entitled to a share of $100 million in compensation after being sold dud insurance policies, following the settlement of three class actions arranged by law firm Slater & Gordon.
ANZ and CBA confirmed on Monday, in releases to the ASX, they had settled the legal actions, after Westpac said the same in its full-year results last week.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
