At war with the big banks
THE class action against Australia's biggest banks over late payment fees has escalated, with lawyers this morning in Sydney drawing two more banks into the case - St George and BankSA.
In what is the biggest class action in Australia's history, the law firm Maurice Blackburn is seeking to recover as much as $200 million in what it says are unlawful fees charged by the banks on credit card and other accounts.
The class action's first target in 2010 was the ANZ bank, and in December it widened its net to include the Commonwealth Bank, National Australia Bank, Westpac and Citi.
In December, the banks announced they would vigorously defend the action. St George and BankSA are owned by Westpac, and have yet to comment on the Federal court action filed against them.
Read more at Brisbanetimes.com.au