In 2018, the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry heard that ANZ had failed to accurately verify the living expenses of home loan customers referred to the bank by mortgage brokers, believing that this was the responsibility of the brokers, in spite of a conflict of interest in doing so; and that, due to processing issues, it had charged nearly 500,000 home loan customers the incorrect interest rate for more than ten years, leading the bank to overcharge customers by approximately $90 million.
