ANZ has confirmed that a class action has been initiated by Phi Finney McDonald in the Federal Court of Australia. The proceedings target Australia and New Zealand Banking Group Limited, focusing on specific credit card holders.
The legal action is believed to involve individuals who held ANZ credit cards between July 1, 2010, and January 1, 2019. It is alleged that the terms of ANZ's credit card contracts during this period were unfair and violated the Australian Securities and Investments Commission Act.
ANZ has stated it will examine the claims made in the class action and will issue updates as necessary.