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from BERNAMA, The Malaysian National News Agency MELBOURNE, March 12 (Bernama) -- Litigation funder, IMF Australia Ltd, will bankroll a class action against banks for the billions of dollars they made from what it claims are unfair exception fees.
IMF Australia said the class action would be for the repayment of exception fees deducted from the customer accounts during the past six years by local and foreign banks.
"The claims relate to honour fees and dishonour fees on bank accounts and over-limit and late-payment fees on credit card accounts.
"Until recently, some banks charged up to A$60 (A$1=RM3.17) if you overdrawn, went beyond an agreed limit, or made …