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Australia's ANZ bank hit with record fine over 'widespread misconduct'

ANZ has agreed to a record fine of A$240 million for years of "unconscionable conduct," according to the Australian Securities and Investments Commission .
The misconduct includes failing to respond to customer hardship notices and making misleading statements about savings interest rates, as reported by ASIC.
ASIC Chair Joe Longo stated that ANZ betrayed the trust of Australians, highlighting significant customer service failures and the risk to public funding.
ANZ's chairman acknowledged the mistakes and confirmed a $150 million remediation program to address these issues.

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ANZ agrees to record A$240m fine for widespread misconduct in Australia

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U.S. News

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Australia's ANZ to pay $160 million over bond deal, customer violations ...

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Otago Daily Times

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'Grubby' ANZ Australia cops massive fine

File photo: Getty Images Grubby and unconscionable isn't a slogan a bank will ever use, but it's the verdict on ANZ's conduct from the financial regulator as it imposes record penalties.

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