Financial Services

Buy now, pay later company Zip Co offered $4 million to settle a lawsuit by mortgage provider Firstmac alleging infringement of its 'Zip' trade mark which it ultimately defeated.

CBA should pay a penalty of $12.8 million -- close to the maximum penalty the court can impose on the bank -- for underpaying its staff to the tune of $16.4 million, a judge has heard.

A battle with the competition regulator over the proposed ANZ, Suncorp tie-up has begun, with the first clash involving a group of rival lenders that want their submissions to the ACCC kept under lock and key.

Mayfair 101 founder James Mawhinney must pay $1.3 million in security within six weeks or a case brought on behalf of his property management group Mainland against a lender and two McGrathNichol receivers will be thrown out. 

National Australia Bank is suing US company You Need A Budget, alleging the YNAB app, which helps users manage their finances, steps on its well-known trade mark and will confuse Australians.

The corporate regulator has taken the country's largest superannuation fund, AustralianSuper, to court for allegedly causing $69 million in losses to customers by failing to merge multiple superannuation accounts.

Direct bank Members Equity has pleaded guilty to criminal charges over misleading representations to customers, but a judge has questioned the bank’s submissions in favour of a low penalty, noting it was only “happenstance” that a systems glitch didn’t lead to worse outcomes for customers.

The corporate regulator has filed a suit against fintech giant PayPal over a term in its contracts with small businesses that sets a deadline for complaints about excess fees.

The Australian Securities and Investments Commission has won its case against Finnish microloan company Ferratum alleging it overcharged vulnerable, low-income consumers during the height of the COVID-19 pandemic.