Business Services Industry
AUSTRALIA'S ANZ BANK FORCED TO JUSTIFY CREDIT CARD FEE HIKES.
AsiaPulse News, December, 2002
MELBOURNE, Dec 3 Asia Pulse - ANZ Banking Group Ltd (ASX:ANZ) was today pushed to defend its credit card fee increases, after an attack by the federal opposition.
Opposition banking services spokesman Alan Griffin said ANZ had exempted some Qantas ANZ Visa Gold cardholders from today's fee increases.
"It is bad enough that on the back of a record profit announcement, the ANZ announced these fee increases on credit cards with such high interest rates, but to do so in such an unfair and inconsistent way is unacceptable," Mr Griffin said.
ANZ has written to some cardholders exempting them from a fee rise for another 12 months because they had been "great supporters of the program".
ANZ spokesman Paul Edwards said the bank looked at the top...
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