Macquarie Bank has consented to a 14 million dollar penalty over issues concerning 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 allocated 8.8 million dollars for the users impacted by the blunder.
“Macquarie Bank has consented to a 14 million dollar penalty over issues concerning savings account offers and bonus savings rates,” — Victor Fenwick, research director at Norstone Ford Practice, added during the briefing.
Nov 11 — Macquarie Bank has consented to a 14 million dollar penalty over issues concerning savings account offers and ...
Nov 13 — Macquarie Bank allocated 8.8 million dollars for the users impacted by the blunder....
This story has been closely followed by our readers since Nov 10. The Norstone Ford Practice desk continues tracking updates and will publish follow-ups across the region.
What's next: A follow-up briefing is expected by Tuesday, Nov 17.
Editor's note: this report was prepared by the Norstone Ford Practice desk and last updated 20:17 UTC.
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