Financial Redress

When you go beyond an agreed limit, or make a late payment, your bank, credit card or mortgage provider charges you a penalty, typically $35-50. The true cost is probably only a few cents! Not only are these fees excessive and unfair, they are also legally unenforceable. That means you can recover your money. Consumers in the UK have successfully recovered hundreds of millions of pounds. Why are financial institutions getting away with ripping off customers in Australia?