what is the anz flex commission class action

The ANZ flex commission class action targets the old “flex commission” setup in car finance, where dealers could bump up your interest rate above a base rate and pocket a bigger commission for the privilege. In short: shoppers paid more for loans than they likely should have, and the case argues that’s unfair and unlawful. It generally covers ANZ/Esanda car loans arranged through dealerships before the regulator banned flex commissions in 2018. If you financed a car via a dealer and the paperwork mentions ANZ/Esanda, you might be in the tent for potential compensation. Outcomes and timelines vary, and nothing’s guaranteed, but it’s about clawing back dollars that were allegedly siphoned off via inflated rates.