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Latest update

Settlement Approval Hearing

The Applicant has agreed to a $49.5 million settlement with NAB and MLC Limited in its class action over the sale of credit card and personal loan CCI products. There is a hearing on 8 May 2020 at which Slater and Gordon will ask the Court to approve the settlement. As a result of Covid19, this hearing will now take place over the telephone. If you wish to observe the hearing, or object to the settlement, please contact the Associate to Lee J on +61 (02) 9230 8407 or by email to

What are the next steps?

By now you should have received an email or letter with a unique Class Action ID , a link to an online form for you to fill out, and additional information supplied in attachments.

What if I don’t receive an email?

There are a few possible reasons you might not receive the email:

  • Check your spam folder in case the email was marked as spam.
  • Check the email account you had used when you were an NAB customer, it may differ from this email
  • NAB may not have had your email on file, and you'll be receiving the notice via the postal address NAB had listed for you

What is the NAB CCI Class Action about?

On 26 September 2018, Slater and Gordon filed a class action against NAB and MLC Limited in the Federal Court of Australia on behalf of persons who held CCI for their credit card or personal loan, namely:

  1. NAB Credit Card Cover (NAB Cover) at any time since 26 September 2012; and/or
  2. NAB Personal Loan Cover (NAB PLC) at any time since 13 June 2013.

The claim is based upon allegations that NAB and MLC have engaged in unconscionable conduct by selling CCI to persons who were ineligible to claim under the terms of, or otherwise highly unlikely to benefit from, the insurance policy. It is also alleged that NAB engaged in misleading and deceptive conduct in relation to the way CCI was sold to persons.

Am I eligible to participate in the class action?

The proceeding has been filed as an ‘open class action’. This means that you may be included in the NAB CCI Class Action if you have paid premium for NAB Credit Card Cover since 26 September 2012 and/or paid a premium for NAB Personal Loan Cover since 13 June 2013, and have satisfied one of the below:

  1. You were not ‘gainfully employed’

    Meaning you did not meet the employment criteria, for example, you were a casual, student, seasonal worker, self-funded retiree, dependent spouse or you were unemployed. Alternatively, you were not working more than 15 hours a week in the one occupation for a period of more than six months.

  2. You were employed by your family, or their company or their business

    Meaning your employer was an immediate family member.

  3. You were employed on a fixed or short-term contract, including seasonal work, with an employer or agency, including as a casual worker

  4. You were a partner in a business partnership or self-employed, either as a contractor or in your own business

  5. You had a ‘critical illness’
    Including cancer, chronic kidney failure (chronic renal failure), heart attack, paralysis, stroke, coronary artery bypass surgery and major organ transplant surgery.

  6. You were under the age of 25 years

  7. You were not an Australian resident and were either issued with a credit card (at any time) or were advanced a personal loan on or after 3 August 2015

  8. You did not appreciate that you had purchased the policy
    For example, you did not know that you were sold or had purchased the credit insurance policy.

  9. You believed that you were required to take out the policy in order to be approved for the credit card or personal loan

  10. You believed that the policy would be at no cost to you, or it was likely there would be no cost to you, when this was not the case

  11. You believed that the policy was suitable for your needs and/or represented value for money, when this was not the case

Will I have to pay legal fees if I participate in the class action?

No. You will not become liable for any out of pocket legal costs simply by remaining as a group member. The proceeding is being run on a No Win No Fee* basis, which means group members will not be required to pay any fees unless the class action is successful – you will never be out of pocket by registering your claim in the proceeding.

Key documents

For more information regarding the NAB CCI Class Action, please refer to the following documents:

Thank you for your feedback.

More Information

Submit an enquiry about the NAB Class Action

If you have a question, want some more information or would just like to speak to someone, make an enquiry now and our NAB CCI Class Actions team will be in touch with you as soon as possible.

Call us on 1800 444 141