Banks face class action over fees

If Maurice Blackburn wins the appeal and the court strikes down additional bank fees, the law firm is likely to lodge more class action lawsuits, swelling the potential size of any payout even further.

Hundreds of thousands of bank customers stand to benefit from a sweeping new class action over credit card late fees worth hundreds of millions of dollars, to be lodged by law firm Maurice Blackburn today.

In what is shaping as the broadest class action in Australian legal history, Maurice Blackburn will today file NSW Supreme Court lawsuits against ANZ, Citibank and Westpac.

A source close to the lawsuit said that without litigation funding, which is currently under scrutiny by the Productivity Commission and out of favour with Attorney General George Brandis, Maurice Blackburn would have been unable to run the bank fees cases.

She waived the usual six-year time limit on legal action, saying there was no restriction on how far back class members could claim the late fees because they did not know the fees were unlawful until the lawsuit was lodged in 2010.

Read more here: SMH

    

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