A report released by the Australian Securities and Investments Commission (ASIC) on Monday said ANZ, Commonwealth Bank Of Australia, Bendigo and Adelaide...
FILE PHOTO: FILE PHOTO: A man walks past a branch of the Australia and New Zealand Banking Group Ltd in Sydney - Four Australian banks will give back a total of A$28 million to low-income customers, after a review by the corporate regulator found these customers had been kept in high-fee bank accounts despite being eligible for cheaper products.
"Banks knew that many of these customers on low-incomes were in inappropriate high-fee accounts, and it has taken ASIC's intervention to force them to act," ASIC Commissioner Alan Kirkland said.Customers who receive certain government payments can operate low-fee accounts under Australia's banking code of practice. The report found that many of these customers have remained in high-fee accounts, thereby hampering their savings.
"CBA will create a new low fee account with a nominal monthly fee for eligible concession customers including Indigenous concession customers," a spokesperson for the country's largest bank said.Sure, Enbridge stock used to be a dividend giant, but I fear that's no longer the case. Yet this stock has a far better outlook. The post A Dividend Giant I’d Buy Over Enbridge Stock Right Now appeared first on The Motley Fool Canada.
Investors are buying individual stocks at a record pace as market-beating bets dwindle to lowest ever
Australian Securities And Investments Commission ASIC Bank Accounts Australian Banks Bendigo And Adelaide Bank Fee Account
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Korea Kicks Off $19 Billion of Chip Loans, Funds From JulySouth Korea will begin awarding aid to chipmakers from July, kicking off a 26 trillion won ($19 billion) package of financial support pledged toward boosting a critical industry.
Read more »
South Korea Kicks Off $19 Billion of Chip Loans, Funds From July(Bloomberg) -- South Korea will begin awarding aid to chipmakers from July, kicking off a 26 trillion won ($19 billion) package of financial support pledged ...
Read more »
Federal government announces $19-million for Science World upgrades in B.C.Upgrades expected to cut Science World’s greenhouse-gas emissions, reduce energy consumption by 42 per cent
Read more »
Cogeco reports profit of $19 million in third quarter as internet subscribers growMONTREAL — Cogeco Inc. reported a profit attributable to shareholders of $19.0 million for its third quarter, up from a loss of $34.5 million a year earlier.
Read more »
$19 million Toronto mansion looking for a buyer after price dropBuilt in 1906 by architects Chadwick and Beckett, 18 Chestnut Park Rd. is a true Toronto classic. The curb appeal of this house already has us gid...
Read more »
Bonds receive biggest weekly inflow since 2021 as high yields attract, BofA saysInvestors poured $19 billion into bond funds in the week to Wednesday, the biggest inflow since February 2021, as they locked in high yields, Bank of America...
Read more »