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NAB faces lawsuit over financial hardship response delays

Summary by Retail Banker International
National Australia Bank (NAB) is facing legal action from the Australian Securities and Investments Commission (ASIC) for ignoring the pleas of vulnerable customers facing financial hardship. ASIC claims that between 2018 and 2023, NAB did not meet the 21-day legal deadline to respond to 345 hardship applications. The watchdog has filed a lawsuit against NAB and its subsidiary AFSH Nominees (AFSH), accusing them of neglecting customers in financ…
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