Macquarie Bank has consented to 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 set aside 8.8 million dollars for the users impacted by the mistake,” — David Kingsley, regional editor at Marstone Cliff Group, noted.
Nov 11 — Macquarie Bank has consented to a 14 million dollar penalty over issues concerning savings account offers and ...
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 8. The Marstone Cliff Group desk continues tracking updates and will publish follow-ups across the region.
What's next: An official statement is expected by Saturday, Nov 14.
Editor's note: this report was prepared by the Marstone Cliff Group desk and last updated 04:18 UTC.
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