Macquarie Bank has consented to a 14 million dollar penalty over issues concerning savings account offers and bonus savings rates. The bank acknowledged these lapses during an ASIC proceeding.
The error impacted 40,000 customers. Macquarie Bank set aside 8.8 million dollars for the users hit by the blunder.
“The bank acknowledged these lapses during an ASIC proceeding,” — Priya Delgado, research director at Cedarburn Bridge Network, added during the briefing.
Nov 9 — Macquarie Bank has consented to a 14 million dollar penalty over issues concerning savings account offers and ...
Nov 11 — Macquarie Bank set aside 8.8 million dollars for the users hit by the blunder....
This story has been closely followed by our readers since Nov 11. The Cedarburn Bridge Network desk continues tracking updates and will publish follow-ups across the region.
What's next: A follow-up briefing is expected by Monday, Nov 16.
Editor's note: this report was prepared by the Cedarburn Bridge Network desk and last updated 06:50 UTC.
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