18th Question

Will the Royal Commission ask the Chairman of the ACCC, Mr. Rod Sims, if the below extracts from 'Conditions of use' booklets issued by St. George Bank, ANZ and Westpac with text in small fonts constitute Unconscionable Conduct?

*            St George Bank "We strongly recommend that you read this booklet carefully and retain it for your future reference" a 76 pages Conditions of Use - Credit Guide document of Conditions.  The word 'interest' appears in the 'Contents' twice and 78 more times throughout the 76 pages.  The word 'fee' or 'fees' appears 53 times.

*           ANZ's 'CONDITIONS OF USE 20.06.2016 CONSUMER CREDIT CARDS'  is a 97 page booklet printed in 9 font. Cardholders are requested to read voluminous parts of it as well as their Credit Card Contract.  The word "interest' appears 216 times in the booklet.  The word 'fee' or 'fees' appears 104 times.  Below is an extract from page 7:

                           "The following summary is designed to highlight some of the important information about your credit card account and to help you identify where to find further details within this booklet. The summary is not a substitute for the terms of Parts A and B of this booklet, which you should still read and understand."

*          "Ignite by Westpac - Consumer Credit Card Conditions of Use".  The word 'interest' appears in the 'Contents' once and 92 more times throughout the 43 pages.  The word 'fee' or 'fees' appears in the 'Contents' once and 74 more timesthroughout the 43 pages.  "This User Guide forms part of your Credit Card Contract, along with the information set out on the reverse of your welcome letter which advises you of your credit limit and other prescribed information we are required to give you by law."  Clause 17 is "Do I have any other rights and obligations?"  "Yes. The law will give you other rights and obligations. You should also READ YOUR CONTRACT carefully." 

Same as Supporting Documented Evidence re 17th Question