Westpac Agrees to $81 Million Settlement in Auto Finance Class Action Lawsuit
2025-03-14
Reuters
In a significant development, Westpac Banking Corp has reached a settlement of A$130 million ($81.84 million) in a class action lawsuit related to auto finance. The lawsuit, which spanned five years, centered on commissions paid to auto dealers. This resolution marks a major milestone for the bank, bringing closure to the long-standing issue. With the settlement, Westpac demonstrates its commitment to resolving disputes and moving forward. The auto finance industry is expected to take note of this development, as it may have implications for lending practices and consumer protection. Key terms like 'class action lawsuit' and 'auto finance' are crucial in understanding the case.
