Class action over ANZ fees

Listed litigation funder IMF Australia has announced that it will lodge a class action against ANZ on behalf of 27,000 customers over excessive penalty fees charged by the bank.

Chris JenkinsDigital editor, business

Updated Sep 23, 2010 – 4.00am, first published at Sep 22, 2010 – 10.43am

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Listed litigation funder IMF Australia has announced that it will lodge a class action against Australia and New Zealand Banking Group on behalf of 27,000 customers over excessive penalty fees charged by the bank.

IMF said in a statement that the suit related to more than $50 million in fees charged by the bank in the past six years.

Chris Jenkins is BusinessDay's digital editor, based in our Sydney newsroom. Connect with Chris on Twitter.