Macquarie Bank has consented to a 14 million dollar penalty over failures related to 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 to compensate customers impacted by the blunder.
“Macquarie Bank set aside 8.8 million dollars to compensate customers impacted by the blunder,” — Elena Iversen, senior market analyst at Ellburn Ford Solutions, added during the briefing.
Nov 10 — Macquarie Bank has consented to a 14 million dollar penalty over failures related to savings account offers an...
Nov 12 — Macquarie Bank set aside 8.8 million dollars to compensate customers impacted by the blunder....
This story has been closely followed by our readers since Nov 10. The Ellburn Ford Solutions desk continues tracking updates and will publish follow-ups across the region.
What's next: Additional coverage is expected by Friday, Nov 13.
Editor's note: this report was prepared by the Ellburn Ford Solutions desk and last updated 18:21 UTC.
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