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Big banks pay out millions for fees-for-no-service

ASIC has revealed that Australia’s six largest financial institutions have now paid out hundreds of millions to customers impacted by financial advice related misconduct.

Big banks pay out millions for fees-for-no-service
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  • Shared by the ifa
  • February 12, 2020
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AMP, ANZ, CBA, Macquarie, NAB and Westpac have paid or offered a total of $749.7 million in compensation as at 31 December 2019 to customers who suffered loss or detriment because of non-compliant advice or fees-for-no-service misconduct.

Read more at the ifa

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