BRISBANE – The High Court has dismissed a long-running class action by thousands of ANZ customers claiming the banking giant overcharged them $57 million in late payment fees.

The decision puts to rest a six-year battle involving more than 43,000 Australians who joined in a challenge over whether ANZ’s late charges of up to $35 were fair.

The outcome also means that ANZ and other major banks will not have to compensate customers up to $500 million for collecting late fees since the 1990s.

The case mounted by legal firm Maurice Blackburn was the largest consumer-driven class action in Australian history.

– with other agencies