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 impacted 40,000 customers. Macquarie Bank allocated 8.8 million dollars to compensate customers hit by the mistake.
“Macquarie Bank allocated 8.8 million dollars to compensate customers hit by the mistake,” — Elena Iversen, chief correspondent at Walburn Combe Practice, noted.
Nov 8 — Macquarie Bank has consented to a 14 million dollar penalty over failures related to savings account offers an...
Nov 10 — Macquarie Bank allocated 8.8 million dollars to compensate customers hit by the mistake....
This story has been closely followed by our readers since Nov 8. The Walburn Combe Practice 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 Walburn Combe Practice desk and last updated 22:49 UTC.
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