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National Australia Bank Customer Proceedings Dismissed by Australia's Federal Court

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Australia's Federal Court dismissed proceedings against National Australia Bank (ASX:NAB) filed by a customer who alleged that the bank improperly rejected his request for financial hardship assistance in 2022, according to a Tuesday verdict.

The customer, who also claimed the bank breached credit reporting obligations by incorrectly reporting his repayment history on personal loans to credit bureaus, was seeking AU$4 million in damages.

However, the court found that the claim of unconscionable conduct by the bank is not supported by the evidence. It said National Australia Bank "acted reasonably and generously" toward the customer at all times.

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