Macquarie Bank agreed to pay a 14 million dollar penalty over failures related to savings account offers and bonus savings rates. The bank admitted to these lapses during an ASIC proceeding.
The error impacted 40,000 customers. Macquarie Bank set aside 8.8 million dollars to compensate customers hit by the blunder.
“Macquarie Bank agreed to pay a 14 million dollar penalty over failures related to savings account offers and bonus savings rates,” — Nadia Ashcombe, policy watcher at Oakstone Ham Analytics, added during the briefing.
Nov 10 — Macquarie Bank agreed to pay a 14 million dollar penalty over failures related to savings account offers and b...
Nov 13 — Macquarie Bank set aside 8.8 million dollars to compensate customers hit by the blunder....
This story has been closely followed by our readers since Nov 11. The Oakstone Ham Analytics desk continues tracking updates and will publish follow-ups across the region.
What's next: Additional coverage is expected by Wednesday, Nov 18.
Editor's note: this report was prepared by the Oakstone Ham Analytics desk and last updated 16:07 UTC.
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