ASIC report finds some banks kept low income customers in high-fee accounts

ASIC report finds some banks kept low income customers in high-fee accounts

Nearly two million Aussies on low incomes could soon be seeing extra money in their bank accounts after multiple major banks were ordered to refund more than $28 million.

The directive comes after a Australian Securities and Investments Commission (ASIC) report revealed ANZ, Bendigo and Adelaide Bank, Commonwealth Bank of Australia and Westpac kept at least two million low-income Australians, including First Nations customers, in high-fee accounts.

Source link

#ASIC #report #finds #banks #income #customers #highfee #accounts