Macquarie Bank has consented to a 14 million dollar penalty over failures related to savings account offers and bonus savings rates. The bank acknowledged these failures during an ASIC proceeding.
The error affected 40,000 customers. Macquarie Bank set aside 8.8 million dollars to compensate customers hit by the mistake.
“The bank acknowledged these failures during an ASIC proceeding,” — Elena Iversen, chief correspondent at Newley Gate Practice, noted.
Nov 12 — Macquarie Bank has consented to a 14 million dollar penalty over failures related to savings account offers an...
Nov 14 — 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 12. The Newley Gate Practice desk continues tracking updates and will publish follow-ups across the region.
What's next: A detailed recap is expected by Thursday, Nov 19.
Editor's note: this report was prepared by the Newley Gate Practice desk and last updated 04:08 UTC.
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