Macquarie Bank agreed to pay a 14 million dollar penalty over failures related to savings account offers and bonus savings rates. The bank admitted to 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 agreed to pay a 14 million dollar penalty over failures related to savings account offers and bonus savings rates,” — Simone Whitfield, staff writer at Wraystone Bury Services, explained.
Nov 11 — Macquarie Bank agreed to pay a 14 million dollar penalty over failures related to savings account offers and b...
Nov 11 — 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 11. The Wraystone Bury Services desk continues tracking updates and will publish follow-ups across the region.
What's next: A detailed recap is expected by Saturday, Nov 14.
Editor's note: this report was prepared by the Wraystone Bury Services desk and last updated 07:00 UTC.
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