Vic: ANZ settles credit
The ANZ has reached a settlement with hundreds of customers over misleading personal loans.
The long-running case in the Victorian Civil and Administrative Tribunal relates tolegal breaches of credit acts in five states for personal loan contracts that were writtenbetween 1985 and 1996.
ANZ has admitted a litany of personal loan mistakes over more than a decade, includinginterest rate bungles and hiding fees and charges.
Government authorities and lawyers have been battling the bank on behalf of customerswho took out the loans from February 28, 1985 to October 31, 1996.
Details of the settlement are expected to be released later today.
AAP RTV db/jlw/jmt
KEYWORD: ANZ CREDIT (MELBOURNE)
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