Ann: Case Update - ANZ Bank Fees,ANZ-IMF.AX, page-30

As an IMF shareholder, I'm disappointed with the ruling.

As a consumer, I think it was the right decision.

The banks certainly overcharge customers and issue penalty fees above the true cost involved with the transaction. So do many businesses.

Consumers should be aware what they are agreeing to when they enter into a contract.

I recently had to change travel dates on a "discounted" business class airfare, cost of the airfare was $3,500. The standard / flexible fare was $4,200. Even though the website showed availabilty for the new dates that I required with the same "discounted" airfare available, I still had to pay a $250 change fee. It took less than 15 minutes on the phone with the airline to make the change.

When I purchased the discounted airfare, the change fees were there for me to see and I willingly purchased the airfare / entered the contract with the airline. Is $250 a fair figure, should the lawyers be also going after the airlines? I would suggest it was a very profitable transaction for the airline.

Glad to put this behind us and move on to high ROI cases.