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 affected 40,000 customers. Macquarie Bank set aside 8.8 million dollars for the users impacted by the mistake.
“Macquarie Bank agreed to pay a 14 million dollar penalty over issues concerning savings account offers and bonus savings rates,” — Lena Ostrowski, research director at Stanburn Dale Solutions, observed.
Nov 10 — 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 mistake....
This story has been closely followed by our readers since Nov 9. The Stanburn Dale Solutions desk continues tracking updates and will publish follow-ups across the region.
What's next: A follow-up briefing is expected by Sunday, Nov 15.
Editor's note: this report was prepared by the Stanburn Dale Solutions desk and last updated 06:28 UTC.
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