Business
ME Bank slapped with criminal charges – The Australian Financial Review
ME Bank has been taken to court and criminally charged with false and misleading behaviour and breaches of the Credit Act by the corporate watchdog.
Its the latest in a series of setbacks for the formerly industry superannuation fund-owned lender, which is on its way to its new owner Bank of Queensland following a $1.3 billion sale earlier this year.
Earlier this month the Banking Code Compliance Committee said it had sanctioned ME Bank for its actions last April, when the bank made unannounced changes to its redraw limits. The Code Committee sanctioned ME Bank for serious and systemic breaches of rules governing timely and clear communication…
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