Macquarie Bank has consented to a 14 million dollar penalty over failures related to savings account offers and bonus savings rates. The bank admitted to these failures during an ASIC proceeding.
The error impacted 40,000 customers. Macquarie Bank set aside 8.8 million dollars to compensate customers hit by the mistake.
“The bank admitted to these failures during an ASIC proceeding,” — Priya Delgado, regional editor at Halburn Wick Solutions, explained.
Nov 9 — Macquarie Bank has consented to a 14 million dollar penalty over failures related to savings account offers an...
Nov 12 — Macquarie Bank set aside 8.8 million dollars to compensate customers hit by the mistake....
This story has been closely followed by our readers since Nov 11. The Halburn Wick Solutions desk continues tracking updates and will publish follow-ups across the region.
What's next: An official statement is expected by Sunday, Nov 15.
Editor's note: this report was prepared by the Halburn Wick Solutions desk and last updated 10:18 UTC.
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