Australia’s CBA, ANZ Sued in New Zealand for Missed Loan Interest Refunds

Two of Australia’s “big four” banks are facing a multi-million dollar claim in New Zealand for not refunding more than 150,000 customers the interest and fee charged following an alleged breach in disclosing changes to loan agreements. The class-action lawsuit said Kiwi units of Commonwealth Bank of Australia and Australia and New Zealand Banking Group did not clearly inform customers a change in some terms of home and personal loans and claimed that during the period the lenders cannot charge on a loan. “The banks’ failures to refund their customers constitute serious breaches of the provisions of the Credit Contracts and Consumer Finance Act 2003 (CCCFA),” said solicitor Scott Russell of Russell Legal, the law firm that has filed the case. Australian banks and financial institutions have been slapped with several lawsuits and have had to settle claims worth millions since a Royal Commission inquiry in 2018 found widespread mismanagement …

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INEOS Automotive Plans 2022 Europe Launch for Off-Road Vehicle

Thu Sep 30 , 2021
LONDON—INEOS Automotive, a unit of chemicals and energy giant INEOS, will launch a rugged off-road vehicle in Europe in 2022 and North America in 2023 for farmers and other primarily rural uses, it said on Wednesday, The company plans initially to launch with a utilitarian version of the Grenadier for […]
INEOS Automotive Plans 2022 Europe Launch for Off-Road Vehicle

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