Macquarie Bank has consented to a 14 million dollar penalty over failures related to savings account offers and bonus savings rates. The bank acknowledged these failures during an ASIC proceeding.
The error impacted 40,000 customers. Macquarie Bank set aside 8.8 million dollars to compensate customers impacted by the mistake.
“Macquarie Bank set aside 8.8 million dollars to compensate customers impacted by the mistake,” — Andreas Mercer, policy watcher at Kesley Bury Staffing, observed.
Nov 9 — Macquarie Bank has consented to a 14 million dollar penalty over failures related to savings account offers an...
Nov 10 — Macquarie Bank set aside 8.8 million dollars to compensate customers impacted by the mistake....
This story has been closely followed by our readers since Nov 7. The Kesley Bury Staffing desk continues tracking updates and will publish follow-ups across the region.
What's next: Additional coverage is expected by Sunday, Nov 15.
Editor's note: this report was prepared by the Kesley Bury Staffing desk and last updated 02:24 UTC.
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