(Reuters) - Australia and New Zealand Banking Group Ltd
ANZ said the Australian Securities and Investments Commission (ASIC) had informed the bank that the proceedings related to the charging of fees for periodical payments in certain cases before February 2016.
The fees were the subject of a class action which was settled in December 2018 for A$1.5 million ($1.05 million), pending court approval, the bank said in a statement.
"ANZ categorically denies any deliberate wrongdoing and intends to vigorously defend any such allegation," it said.
($1 = 1.4333 Australian dollars)
(Reporting by Devika Syamnath in Bengaluru; editing by Richard Pullin)
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Updated Date: Jul 25, 2019 07:05:29 IST