Finance Finance News Farmers fight back against ‘predatory’ banks

Farmers fight back against ‘predatory’ banks

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Struggling mortgaged farmers across the nation reportedly feel under threat from banks they accuse of trying to unfairly repossess their properties.

Graziers have fought back with the threat of a class action law suit in Western Australia and social media campaigns elsewhere, Fairfax Media reported on Tuesday.

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WA farmer Rodney Culleton, whose farm was seized two years ago while he was overseas in the UK, is reportedly leading the fight on behalf of those affected.

“The properties have been stolen 100 per cent,” Mr Culleton told Fairfax Media.

ANZ was the only bank named in the report. In a statement, a spokesperson said the bank had reach an “amicable solution” with the farmer despite winning court cases against him “many times”.

A lawyer said class action was “inevitable”.

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