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Current as of 22/12/14 10:00AM NZST

Tamsyn Parker

Money Editor for NZ Herald

32,000 join bank fee lawsuit

ANZ is the first bank to face a class action-style lawsuit alleging excessive penalty fees. Photo / APN
ANZ is the first bank to face a class action-style lawsuit alleging excessive penalty fees. Photo / APN

A lawsuit claiming the ANZ Bank charged "excessive" penalty fees is to be filed in the High Court at Auckland today.

The bank is the first to be targeted in a class action-style suit being brought by Auckland lawyer Andrew Hooker and backed by Australian law firm Slater & Gordon.

At 5pm yesterday just over 32,000 Kiwis had registered to join the Fair Play on Fees campaign against the banks. At least 11,000 are customers of the ANZ. Hooker said he would not know exactly how many ANZ customers had signed up until this morning.

The cut-off for ANZ customers to register was 11 o'clock last night. Hooker expected to file by lunchtime.

The ANZ has said it will vigorously defend the case. The bank has 25 working days to file its defence although that can be extended.

- NZ Herald

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