Are ANZ, ASB's Aussie parents treating shareholders like mushrooms?

Are ANZ Banking Group and ASB's Australian parent, Commonwealth Bank of Australia, keeping their investors in the dark on their potential liability from an ongoing class action suit in New Zealand?

It does look like they are.

Both banks settled action taken by the Commerce Commission under one part of the Credit Contracts and Consumer Finance Act 2003 (CCCFA), which requires financial institutions to disclose terms and conditions, as well as the cost of borrowing, whenever a new loan is taken out or an existing loan is varied.

ASB agreed to pay about $8.1 million to more than 73,000 customers.