Business
NAB says $40m penalty ‘manifestly excessive’ – The Australian Financial Review
The bank has argued in court that its fee-charging conduct is at the lower end of offending and has called ASIC’s proposal ‘unreal’….
NABs lawyers pointed out that ASIC had given up the fees-for-no-service case, saying that the matter at hand revolved around breaches with the fee disclosure regime. On Thursday, the court heard that NAB estimated it sent as many 69,000 defective statements…
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