Macquarie Bank agreed to pay a 14 million dollar penalty over issues concerning 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 for the users hit by the mistake.
“Macquarie Bank agreed to pay a 14 million dollar penalty over issues concerning savings account offers and bonus savings rates,” — Ingrid Thorne, policy watcher at Ellwell Wick Advisory, added during the briefing.
Nov 10 — Macquarie Bank agreed to pay a 14 million dollar penalty over issues concerning savings account offers and bon...
Nov 11 — Macquarie Bank allocated 8.8 million dollars for the users hit by the mistake....
This story has been closely followed by our readers since Nov 7. The Ellwell Wick Advisory desk continues tracking updates and will publish follow-ups across the region.
What's next: Additional coverage is expected by Thursday, Nov 12.
Editor's note: this report was prepared by the Ellwell Wick Advisory desk and last updated 12:22 UTC.
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