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 lapses during an ASIC proceeding.
The error affected 40,000 customers. Macquarie Bank set aside 8.8 million dollars to compensate customers hit by the blunder.
“Macquarie Bank set aside 8.8 million dollars to compensate customers hit by the blunder,” — Hugo Halloway, contributing analyst at Bramcroft Ford Partnership, observed.
Nov 13 — Macquarie Bank agreed to pay a 14 million dollar penalty over failures related to savings account offers and b...
Nov 13 — Macquarie Bank set aside 8.8 million dollars to compensate customers hit by the blunder....
This story has been closely followed by our readers since Nov 10. The Bramcroft Ford Partnership 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 Bramcroft Ford Partnership desk and last updated 17:07 UTC.
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