Business
Australian car buyers launch class action against Westpac over alleged secret dealer commissions – The Guardian
Hundreds of thousands of buyers allegedly paid as much as three times the normal bank interest rate when arranging finance through a car dealer
Law firm Maurice Blackburn has launched a class action lawsuit against Westpac on behalf of hundreds of thousands of car buyers who were sold vehicle loans under a deal that allegedly allowed dealers to secretly pocket vast commission payments.
Dealers were able to maximise commissions Westpac and its subsidiary, St George, paid them for selling the loans by charging some customers as much as three times the banks going interest rate, it is claimed.
One of the lawsuits lead applicants, Alannah…
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