Two of Australia’s “big four” banks are facing a multi-million dollar claim in New Zealand for not refunding more than 150,000 customers the interest and fee charged following an alleged breach in disclosing changes to loan agreements. The class-action lawsuit said Kiwi units of Commonwealth Bank of Australia and Australia and New Zealand Banking Group did not clearly inform customers a change in some terms of home and personal loans and claimed that during the period the lenders cannot charge on a loan. “The banks’ failures to refund their customers constitute serious breaches of the provisions of the Credit Contracts and Consumer Finance Act 2003 (CCCFA),” said solicitor Scott Russell of Russell Legal, the law firm that has filed the case. Australian banks and financial institutions have been slapped with several lawsuits and have had to settle claims worth millions since a Royal Commission inquiry in 2018 found widespread mismanagement …