CHOICE membership

Class Action: AMP, CommBank, NAB

banking

#1

I’ve been with these companies for years. Is it worth registering for Class Action, considering you don’t pay if you don’t win???


#2

It is worth considering whether or not a class action is in ones interests.

If it is about recovering fees and charges for services not provided, it may be part of the outcome of the Royal Commission that these fees are refunded. If one enters a class action, one needs to check what the implications are if this is the outcome of the Royal Commission and whether one has to wait until the outcome of the class action to receive any reimbursements…noting that any reimbursements as a result of the class action will be less any legal fees accumulated by the lawyers mounting the class action. It is also unlikely a class action will recoup fees or charges greater than that which would otherwise be reimbursed.


#3

Could be both; for services not provided and having shares that have lost value due to corruption and/or misdeeds. I still haven’t been notified about being reimbursed.
As to the Class action to the hacking of YAHOO, TWITTER, GOOGLE, FACEBOOK and some banks, I still haven’t heard of Consumers being notified.


#4

I say go for it, I would love to join it but I have never been a customer of the big 4 or AMP because I have always held the opinion that they were operated for their shareholders benefit and not their customers benefit.
As it turns out I was wrong even their shareholders interests ran a distance second to the incentive and benefit of the executive class.


#5

The Executive class always Wins out; and don’t forget the Brokers. The share holders usually get peanuts.The CEO usually gets the biggest share, then the Directors , as you know. It’s called “Class Action” for a purpose. We can retaliate by being heard and maybe get rid of some dead wood.


#6

I cannot join any proposed class action because I was never a customer or these organisation/s therefore i have not suffered a loss by their actions or omissions etc (not that I’m aware of??).


#7

Their are 3 Class Action’s at present against AMP; 1. IMF Bentham 2. Slater and Gordon 3. Shine Lawyers.
Which one would be best to register with???


#8

You may be able to register for different ones depending on your status with AMP. If you are a Shareholder, or a client or a Shareholder and a client then there are different Class Actions for Shareholders and clients. I would suggest you speak to each one to find out which one or mix of them covers your circumstances best.


#9

You will also need to demonstrate that you meet the circumstances surrounding the claim they propose to make.