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Briefs: Bentham IMF signs co-funding agreement, PayPal goes biometric, ACCC issues MFAA draft determ

27 March 2014 5:03PM
Litigation funder Bentham IMF has entered into a co-funding arrangement with US fund manager, Elliott Management Corp. The co-funding will apply to Bentham IMF's UK and European operations, which were established last year. The co-funding partners will also look at jointly funding cases in the Asia-Pacific region.PayPal fingerprint authentication on the Samsung Galaxy S5, which was announced last month, is now available locally. Galaxy S5 users will be able to log in to their PayPal accounts using only their fingerprint. PayPal said one in four PayPal Australia transactions were made on mobile devices.The Australian Competition and Consumer Commission has issued a draft determination, proposing to grant authorisation to the Mortgage and Finance Association of Australia for its disciplinary rules. The issue is whether the MFAA should have jurisdication over its members, when industry conduct is already regulated under the provisions of consumer credit law and supervised by ASIC. The ACCC has called for submissions on the draft determination.The Australan Securities and Investments Commission found that ANZ may have misled  consumers in its advertising for income protection insurance last year. ANZ promoted a bonus A$100 Visa gift card as part of the package. There were eligibility conditions for the gift card, which ASIC said were not sufficiently prominent in the advertising. ANZ has agreed to waive the conditions and is sending gift cards to more than 700 customers.

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