ANZ and NAB have struck an eleventh-hour deal with ASIC over its Federal Court action in which it claims that ANZ, NAB and Westpac engaged in unconscionable market conduct in 2010-2012 by manipulating the bank bill swap rate (BBSW), the key interest rate benchmark for interbank lending. ANZ is...

In the first court action by the ACCC to enforce new laws that protect small businesses from unfair contract terms, the Federal Court has declared that eight terms in the standard form contract used by JJ Richards & Sons Pty Ltd (JJ Richards) for its small businesses customers are unfair and...

National Warranty Company (NWC) has agreed to make changes to its extended vehicle warranty (ETW), which is mainly sold through used-vehicle dealerships, following concerns raised by the ACCC. The ACCC was concerned that: the product name, ‘Extension to Manufacturer’s Warranty’, could...