Nov 7 (Reuters) - National Australia Bank Ltd (NAB) :
- COURT FINDS NAB ENGAGED IN UNCONSCIONABLE CONDUCT OVER ACCOUNT FEES
- ALLEGED BETWEEN FEBRUARY 2015 AND FEBRUARY 2019, NAB WAS CHARGING FEES FOR SOME PERIODIC PAYMENTS THOUGH CUSTOMERS WERE ENTITLED TO EXEMPTION
- NAB OVERCHARGED 4,874 PERSONAL BANKING & 913 BUSINESS BANKING CUSTOMERS TOTAL OF A$365,454 IN PERIODIC PAYMENT FEES
- COURT ALSO FOUND THAT NAB’S UNCONSCIONABLE CONDUCT CONTRAVENED ITS OBLIGATIONS AS AN AUSTRALIAN FINANCIAL SERVICES LICENSEE
- MATTER WILL BE LISTED FOR A HEARING ON SCOPE OF ANY FURTHER RELIEF, INCLUDING PENALTY ON A DATE TO BE FIXED
- ALLEGATION THAT NAB FALSELY REPRESENTED IT COULD CHARGE FEES FOR CERTAIN PERIODIC PAYMENTS WHEN NOT ENTITLED TO DO SO NOT SUSTAINED BY COURT
(([email protected];))
News: NAB Australia's ASIC Says Court Finds NAB Engaged In Unconscionable Conduct Over Account Fees
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