A class action against Australian banks, , is being considered by a major law firm.

class action against Australian banks, which are being accused of selling tens of millions of dollars of worthless credit card insurance, is being considered by a major law firm. Slater and Gordon is investigating the potential action for customers ranging from business people to Centrelink recipients and pensioners, arguing they may be receiving little or no benefit. Slater and Gordon says it's found "substantial evidence" to suggest that a large number of Australian credit card holders are paying hundreds, if not thousands, of dollars a year for essentially worthless insurance.

Source: AAP