Australia fines lender ANZ $9.6 million for misleading customers over funds
-Australia's corporate regulator said on Tuesday the federal court has ordered ANZ Group Holdings to pay a penalty of A$15 million for misleading customers about funds available in certain credit card accounts.
The error resulted in customers being charged with thousands of dollars in fees while the average remediation paid was around $45 per affected account. So far, the country's fourth-largest bank has provided remediation payments of more than A$8.3 million to about 186,000 accounts that were charged with fees and interest between May 2016 and November 2018.
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.
Australia's Qantas flags hit from higher fuel prices By ReutersAustralia's Qantas flags hit from higher fuel prices
Read more »
Writers reach tentative labor agreement with Hollywood studios By ReutersWriters reach tentative labor agreement with Hollywood studios
Read more »
China Evergrande: unable to meet qualifications for issuance of new notes By ReutersChina Evergrande: unable to meet qualifications for issuance of new notes
Read more »
Asian shares subdued after brutal central bank week By ReutersAsian shares subdued after brutal central bank week
Read more »
Oil climbs with tight supply back in focus By ReutersOil climbs with tight supply back in focus
Read more »
Marketmind: Bond yield surge casts dark quarter-end shadow By ReutersMarketmind: Bond yield surge casts dark quarter-end shadow
Read more »