ANZ agrees to settle consumer credit insurance class action

ANZ today announced it has reached an agreement to settle a class action brought against it by Slater & Gordon in 2020.

The class action is against a number of parties, including ANZ, and relates to the sale of three consumer credit insurance products.

ANZ will contribute $42 million to the settlement, which is covered by provision held at 30 September 2022.  The settlement is without admission of liability and remains subject to court approval.

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