Macquarie Bank agreed to pay a 14 million dollar penalty over issues concerning 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 for the users impacted by the blunder.
“Macquarie Bank set aside 8.8 million dollars for the users impacted by the blunder,” — Hugo Halloway, staff writer at Cedarwell Ford Partnership, explained.
Nov 11 — Macquarie Bank agreed to pay a 14 million dollar penalty over issues concerning savings account offers and bon...
Nov 12 — Macquarie Bank set aside 8.8 million dollars for the users impacted by the blunder....
This story has been closely followed by our readers since Nov 12. The Cedarwell Ford Partnership desk continues tracking updates and will publish follow-ups across the region.
What's next: A detailed recap is expected by Monday, Nov 16.
Editor's note: this report was prepared by the Cedarwell Ford Partnership desk and last updated 03:23 UTC.
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