The corporate regulator cited submissions from people who had left violent relationships or who had lost work during the pandemic.

Sydney Morning Herald

Sydney

New South Wales

Australia

ASIC sues NAB for ‘failing’ customers facing financial hardship

Media Bias/Fact Check

Nine Entertainment Co.

The corporate regulator alleges NAB did not respond to 345 hardship applications within the legal time frame. NAB has apologised and says it's changed its approach.

ABC Australia

Australian Government

NAB sued by ASIC for failures in financial hardship claims

National Australia Bank is facing federal court for allegedly failing 345 customers at their most vulnerable when they applied for hardship support.

News

Murdoch family

NAB faces legal action over 345 customers

The Australian Securities and Investments Commission (ASIC) announced on Monday (18th) that it has taken the National Australia Bank (NAB) to the Federal Court and demanded a huge fine from it because the bank failed to respond to its financially distressed customers within the prescribed time.

澳洲證券投資委員會（ASIC）週一（18日）宣布，由於澳洲國民銀行（NAB）未能在規定時間內對其財務困難客戶做出回應，已將其告上聯邦法庭，並要求對其處以巨額罰款。

未及時回應財務困難客戶 澳洲國民銀行被訴 | 做出回應 | 巨額罰款

大纪元 Epoch Times

Falun Gong

National Australia Bank sued for failing to respond promptly to customers in financial difficulties

Customers facing issues such as domestic violence and serious medical conditions were let down by NAB in their requests for support, a lawsuit alleges.

The West Australian

Kerry Stokes

NAB sued for failing customers in financial hardship

PerthNow

City of Perth

Western Australia

Corporate regulator ASIC revealed it was seeking the court to impose fines on NAB and one of its subsidiaries.

SBS News

NAB taken to court over allegedly failing customers in financial hardship

‘We will not hesitate to take decisive action when banks and lenders fail to comply with their obligations.’

7NEWS Australia

Major bank accused of ‘failing’ hundreds of vulnerable customers facing financial hardship

The financial watchdog is suing a major Australian bank for allegedly ignoring hundreds of hardship support applications, including domestic violence victims and people battling serious illness.﻿The Australian Securities and Investment Commission claims that National Australia Bank and its subsidiary AFSH Nominees did not respond to 345 hardship applications within the legally required 21-day timeframe.The applications were allegedly placed betw…

9News

DV victims among hundreds major bank 'failed': ASIC

(Reuters) –     Australia’s corporate watchdog on Monday launched civil penalty proceedings against National Australia Bank, the country’s second-largest lender, for failing to respond to hundreds of financial hardship applications within the legally mandated time frame. The Australian Securities and Investments Commission (ASIC) claims that NAB and its unit AFSH Nominees failed to meet the legal 21-day deadline for responding to 345 hardship ap…

ASIC sues NAB for ‘failing’ customers facing financial hardship

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