If you received the Federal Court Notice and would like to register your interest in the NAB CCI Class Action, please click the 'NAB' button above. If you would like to understand more about the NAB CCI Class Action, please refer to the below information.
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:
- NAB Credit Card Cover (NAB Cover) at any time since 26 September 2012; and/or
- 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:
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.
You were employed by your family, or their company or their business
Meaning your employer was an immediate family member.
You were employed on a fixed or short-term contract, including seasonal work, with an employer or agency, including as a casual worker
You were a partner in a business partnership or self-employed, either as a contractor or in your own business
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.
You were under the age of 25 years
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
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.
You believed that you were required to take out the policy in order to be approved for the credit card or personal loan
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
You believed that the policy was suitable for your needs and/or represented value for money, when this was not the case
How do I participate in the class action?
On 22 July 2019, the Court ordered that any persons wishing to opt out of the NAB CCI Class Action were required to do so by 4pm on 30 August 2019. We confirm the opt out process has now closed.
Register for the NAB CCI Class Action
If you are an eligible class member and would like to register your interest in receiving compensation in the event of a successful outcome, and receive regular updates regarding the progress of the NAB CCI Class Action, you can do so by registering below.
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.
For more information regarding the NAB CCI Class Action, please refer to the following documents: