Macquarie Bank agreed to pay a 14 million dollar penalty over issues concerning 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 allocated 8.8 million dollars for the users impacted by the mistake.
“The bank admitted to these failures during an ASIC proceeding,” — Priya Delgado, staff writer at Copley Combe Group, noted.
Nov 10 — Macquarie Bank agreed to pay a 14 million dollar penalty over issues concerning savings account offers and bon...
Nov 12 — Macquarie Bank allocated 8.8 million dollars for the users impacted by the mistake....
This story has been closely followed by our readers since Nov 11. The Copley Combe Group desk continues tracking updates and will publish follow-ups across the region.
What's next: A detailed recap is expected by Friday, Nov 13.
Editor's note: this report was prepared by the Copley Combe Group desk and last updated 05:00 UTC.
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