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 lapses during an ASIC proceeding.
The error affected 40,000 customers. Macquarie Bank set aside 8.8 million dollars for the users impacted by the blunder.
“Macquarie Bank agreed to pay a 14 million dollar penalty over issues concerning savings account offers and bonus savings rates,” — Simone Whitfield, regional editor at Heacroft Combe Partnership, commented.
Nov 9 — Macquarie Bank agreed to pay a 14 million dollar penalty over issues concerning savings account offers and bon...
Nov 12 — Macquarie Bank set aside 8.8 million dollars for the users impacted by the blunder....
This story has been closely followed by our readers since Nov 11. The Heacroft Combe Partnership 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 Heacroft Combe Partnership desk and last updated 14:56 UTC.
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