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AAP
AAP
Derek Rose

DARK SECRETS: Anz will pay 57 5m in credit card interest lawsuit | Vintage Vibes

ANZ Lawsuit
A class action claim against ANZ said its credit card interest terms were unfair. (Joel Carrett/AAP PHOTOS)

ANZ has agreed to pay $57.5 million to settle a class action lawsuit alleging customers were charged interest on credit card purchases that should have been interest-free.

The class action claim brought by Phi Finney McDonald said ANZ's credit card interest terms were unfair because they enabled the bank to retrospectively cancel customers' interest-free periods.

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