Business
Bank named and shamed for hounding investors – Motley Fool Australia
Code violations are so serious that it’s the first time in history that the industry watchdog has explicitly named the financial institution.
Bendigo and Adelaide Bank Ltd (ASX: BEN) has been shamed by an industry authority for its debt collection practices from investors.
The Banking Code Compliance Committee (BCCC) found that Bendigo and Adelaide Bank violated the code multiple times from 2015 to 2019.
The breaches related to “debt collection practices and the treatment of customers experiencing financial difficulty” by its Great Southern Loans (GSL) business unit.
This is the first time ever the committee has explicitly named a…
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