Sept 5 (Reuters) - Australia's ASIC:
- SUES WESTPAC FOR FAILING TO RESPOND TO HARDSHIP NOTICES
- COMMENCED CIVIL PENALTY PROCEEDINGS IN FEDERAL COURT AGAINST WESTPAC FOR FAILING TO RESPOND TO CUSTOMERS’ HARDSHIP NOTICES
- ASIC ALLEGES THAT BETWEEN 4 SEPT 2017 AND 20 MARCH 2022, WESTPAC BREACHED THE NATIONAL CREDIT CODE
- IN SOME CASES, CUSTOMERS ENDURED DEBT COLLECTION ACTIVITIES BY WESTPAC WHILE WAITING FOR BANK TO RESPOND TO THEIR HARDSHIP NOTICES
- TAKEN ACTION TO HIGHLIGHT IMPORTANCE OF LENDERS RESPONDING TO HARDSHIP NOTICES WITHIN REQUIRED TIMEFRAME TO REDUCE HARM TO THEIR CUSTOMERS
- ALLEGES WESTPAC BREACHED THE NATIONAL CREDIT ACT BY FAILING TO ACT EFFICIENTLY WHILE RESPONDING TO ITS CUSTOMERS’ HARDSHIP NOTICES
- CLAIMS WESTPAC DID NOT DO ENOUGH TO INVESTIGATE AND RECTIFY THE SYSTEMS ISSUES PLAGUING ITS ONLINE HARDSHIP NOTIFICATION PROCESS.
- SEEKING DECLARATIONS, PECUNIARY PENALTIES AND ADVERSE PUBLICITY ORDERS AGAINST WESTPAC FROM COURT
(([email protected];))
News: WBC Australia's ASIC Sues Westpac For Failing To Respond To Hardship Notices
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