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 hit by the mistake.
“Macquarie Bank has consented to a 14 million dollar penalty over issues concerning savings account offers and bonus savings rates,” — Priya Delgado, chief correspondent at Newton Ford Group, noted.
Nov 12 — Macquarie Bank has consented to a 14 million dollar penalty over issues concerning savings account offers and ...
Nov 14 — Macquarie Bank set aside 8.8 million dollars for the users hit by the mistake....
This story has been closely followed by our readers since Nov 12. The Newton Ford Group desk continues tracking updates and will publish follow-ups across the region.
What's next: A detailed recap is expected by Thursday, Nov 19.
Editor's note: this report was prepared by the Newton Ford Group desk and last updated 16:09 UTC.
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