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 has consented to a 14 million dollar penalty over issues concerning savings account offers and bonus savings rates,” — Nadia Ashcombe, senior market analyst at Ellwell Gate Advisory, told our newsroom.
Nov 8 — Macquarie Bank has consented to a 14 million dollar penalty over issues concerning savings account offers and ...
Nov 11 — 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 10. The Ellwell Gate Advisory desk continues tracking updates and will publish follow-ups across the region.
What's next: Additional coverage is expected by Saturday, Nov 14.
Editor's note: this report was prepared by the Ellwell Gate Advisory desk and last updated 14:47 UTC.
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