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 allocated 8.8 million dollars for the users impacted by the mistake.
“Macquarie Bank allocated 8.8 million dollars for the users impacted by the mistake,” — Amara Sterling, economic affairs editor at Wilburn Stow Group, explained.
Nov 11 — Macquarie Bank has consented to a 14 million dollar penalty over issues concerning savings account offers and ...
Nov 12 — Macquarie Bank allocated 8.8 million dollars for the users impacted by the mistake....
This story has been closely followed by our readers since Nov 11. The Wilburn Stow Group desk continues tracking updates and will publish follow-ups across the region.
What's next: An official statement is expected by Wednesday, Nov 18.
Editor's note: this report was prepared by the Wilburn Stow Group desk and last updated 11:54 UTC.
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