Wednesday, November 11, 2026||
MultiKhabarMultiKhabar

Macquarie admits ‘bonus’ savings rate failure, agrees to pay $14 million

Share:WhatsAppFacebookX (Twitter)Telegram
Macquarie admits ‘bonus’ savings rate failure, agrees to pay $14 million
Photo / Coverage: Sydney Morning HeraldCredit: Millie Muroi
EXECUTIVE SUMMARY

The corporate regulator said customers should not have to scrutinise every transaction and that Macquarie had failed to prevent confusion to customers.

Key Takeaways

  • Macquarie admits ‘bonus’ savings rate failure, agrees to pay $14 million.
  • The corporate regulator said customers should not have to scrutinise every transaction and that Macquarie had failed to prevent confusion to customers.
  • The corporate regulator said customers should not have to scrutinise every transaction and that Macquarie had failed to prevent confusion to customers.

The corporate regulator said customers should not have to scrutinise every transaction and that Macquarie had failed to prevent confusion to customers.

Share:WhatsAppFacebookX (Twitter)Telegram

Read Complete Original Article

Published originally on Sydney Morning Herald

Visit Publisher Site →

Related News

🇦🇺 Australia
Macquarie Bank to pay $14m penalty after confusing ‘welcome rate’ promotion
World9m ago

Macquarie Bank to pay $14m penalty after confusing ‘welcome rate’ promotion

Asic says customers should not have to check every transaction to ensure they receive the correct interest Macquarie Bank is set to pay a $14m court-imposed penalty after it admitted to breaking the Corporations Act with its “welcome rate” promotions. The penalty comes amid a crackdown by Australian Securities and Investments Commission over complex savings conditions that risk short-changing consumers grappling with the cost of living. Continue reading...

The Guardian - Australia
Multikhabar App

All Information In One Place

Real-time headlines from trusted sources. Get the app now — stay updated, inspired, and ahead with breaking news!

Get it on Google Play