Business
NAB fined $15m for loan-introducer scheme – The Australian Financial Review
Judge savages the big four bank over the contraventions as well as the corporate regulator for failing to investigate the matter more thoroughly.
The penalty awarded sees the total fines ASIC has secured from the big banks to $87 million over the past two months, however it too came in for a serve, with Justice Lee tearing shreds off the regulator.
I have a nagging feeling of disquiet that the true picture of the extent of the problems with the program is not being revealed because there was not a real regulatory desire to pursue a thorough investigation Justice Lee said.
Justice Lee was forced to turn to Corinthians to convey his disappointment…
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