NAB Refunding Fees
NAB Refunding Fees – National Australia Bank says a mass of customer refunds for late fees has nothing to do with the threat of a $5 billion class action.
The potential class action against 12 banks would seek to claw back billions for customers in ”exception fees”, including for late credit card payments or overdrawn accounts. More than 70,000 applicants registered online last week.
Law firm Maurice Blackburn, which is handling the case, said banks such as NAB had already started to change their behaviour in response.
”Banks are realising the game is up and they’re putting their houses in order,” chairman Bernard Murphy said. ”National Australian Bank has admitted overcharging some of its customers and has quietly repaid a [portion] of the fees.
”I think it strengthens our case … When people acknowledge their mistakes by changing their behaviour it means our argument that these fees were never reasonable is strong.”
But Lisa Gray, NAB head of personal banking, denied the refunds were a knee-jerk reaction, saying the bank began paying 16,000 overcharged customers ”several months ago” and that news of a class action was not a trigger.
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