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Four Australian banks, including ANZ, Bendigo and Adelaide Bank, Commonwealth Bank of Australia (CBA), and Westpac, will return A$28 million ($19 million) to low-income customers. This decision follows a review by the Australian Securities and Investments Commission (ASIC) which found that these banks had been systemically charging high fees to at least two million low-income earners, including many pensioners.
An ASIC report has revealed banks have been systemically charging high fees to low income earners. $28 million will be refunded to customers after it was found ANZ, Bendigo and Adelaide Bank, CBA and Westpac kept at least two million Australians on low incomes, including many… https://t.co/iA7BvCMTG3
Aussie banks to return $19 mln charged in high fee to low-income customers https://t.co/J3xybfSJpK https://t.co/GRhieVrG6p
🔵 AUSSIE BANKS TO RETURN $19 MILLION CHARGED IN HIGH FEE TO LOW-INCOME CUSTOMERS Four Australian banks will give back a total of A$28 million ($18.95 million) to low-income customers, after a review by the corporate regulator found these customers had been kept in high-fee…
