Finance Consumer Slater and Gordon takes NAB class action up a notch

Slater and Gordon takes NAB class action up a notch

NAB in the courtroom.
A class action against NAB has been expanded to include customers sold loan insurance. Photo: The New Daily
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Slater and Gordon has widened its class action case against National Australia Bank to include people who were sold personal loan insurance.

The firm’s 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 said on Friday it was 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.

A NAB spokesperson said the bank encouraged any customers with questions regarding products and services to talk to their banker, or to contact NAB via a dedicated hotline established for credit card insurance.

Slater and Gordon principal lawyer Andrew Paull said that NAB pushed its insurance products on some of the most vulnerable in the community, including the unemployed, those on government benefits or people with existing disabilities.

“NAB knows that using pushy tactics and pressuring vulnerable customers into buying worthless insurance was wrong,” 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.”

NAB customers who paid for personal loan insurance premiums since June 13, 2013, may be eligible to join the class action.

The action is being run on a no win, no fee basis.