Below is the first part of an article from france24.com. It reads…
AFP – Australia’s largest ever consumer class action in which bank customers are fighting for the return of more than Aus$240 million (US$220 million) in fees began in Melbourne on Monday.
Law firm Maurice Blackburn is representing some 43,500 ANZ Bank customers who believe a wide range of charges they paid were excessive, in the first of several trials planned as part of the case.
Their lawyers argue the honour, dishonour, late payment and over-limit fees — usually a Aus$25 to Aus$35 charge — were exorbitant, unfair penalties rather than fees for services and no reflection of what it cost the banks to deal with.
“So you might be a dollar over on your account or a day late in your payment and the banks will slug you with a fee that’s out of all proportion to what it costs them for that minor transgression,” Maurice Blackburn’s Andrew Watson said.
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