Posted on 14 Jun 2019
Unsuspecting NAB customers sold dodgy personal loan insurance will now be able to join Slater and Gordon’s class action against NAB and MLC.
The class action issued in 2018 on the back of the Banking Royal Commission argues thousands of NAB customers were sold worthless credit card insurance they would never have been eligible to claim against.
Slater and Gordon has today been granted leave by the Federal Court to expand the claim beyond credit card customers, to include people who were sold a similar type of insurance for personal loans.
Principal Lawyer Andrew Paull said that NAB pushed its worthless insurance products on some of the most vulnerable in the community, including the unemployed, those on government benefits or with people with existing disabilities.
“NAB knows that using pushy tactics and pressuring vulnerable customers into buying worthless insurance was wrong. At the conclusion of the Royal Commission, NAB issued a public apology for having failed its customers. This is just another example of those failings,” Mr Paull said.
“Apologies are not enough. Slater and Gordon calls on NAB to address the legitimate grievances of its customers, who were subjected to pressure sales tactics and sold insurance products that were of little or no value.
“As of today, the class represented in this action has been expanded to include people who were sold worthless insurance at the time they entered into a personal loan with NAB.”
NAB customers who have paid for personal loan insurance premiums at any time since 13 June 2013 are urged to contact Slater and Gordon Class Actions
The class action was filed in 2018 and is being run on a No Win No Fee basis.
Media Contact Therese Allaoui (03) 9602 6844 / 0428 994 937