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Jennifer Hewett

Why the big banks almost always pay up for class actions

Cases are reaching further and faster into the pockets of corporate Australia. No one can argue the principle but the cost to business is rising.

Jennifer HewettColumnist
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Another week, another class action against the banks. Actually another two. CBA and NAB have both been targeted this week, with the launch of proceedings rounding out class actions against Westpac and ANZ started last November.

No one is going to feel sorry for the banks, given the roll call of shame dramatised to such effect in the Hayne royal commission.

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Jennifer Hewett is the national affairs columnist. She writes a daily column on politics, business and the economy. Connect with Jennifer on Twitter. Email Jennifer at jennifer.hewett@afr.com
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    Original URL: https://www.afr.com/companies/financial-services/why-the-big-banks-almost-always-pay-up-for-class-actions-20200123-p53u55