Macquarie to Cop $14M Penalty over Interest Rate Promos to New Customers

Macquarie to cop $14M penalty over interest rate promos to new customers

Save (0) Please login to bookmark Close Username or Email Address Password Remember Me Macquarie Bank has agreed to a proposed $14 million penalty after admitting to failures in how it promoted introductory offers for new savings account customers. Subscribe to Lawyerly to access this article. Already a subscriber? Username or Email Address Password Remember Me …

Millions of Aussies warned as bank dupes customers out of cash

A major bank has admitted misleading advertising with almost 40,000 customers receiving millions in repayments.

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.

Big bank hit over savings blunder

One of Australia’s largest banks has been slapped with a multimillion-dollar fine over the way it promoted rates to new savers.

Macquarie Bank to pay $14m penalty over savings account offers

The fast-growing bank has compensated 40,000 account holders and will pay a penalty after regulators targeted marketing of introductory interest earnings.

Savers urged to check interest rates on accounts as Macquarie admits failings

Macquarie Bank has admitted to failures in the promotion of its "welcome" interest rate for new savings account customers.