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ASIC report finds some banks kept low income customers in high-fee accounts

ASIC report finds some banks kept low income customers in high-fee accounts

Insolvency Insider
October 06, 2024

Millions of Aussies on low incomes will be refunded more than $28 million following an ASIC investigation which found Commonwealth Bank (CBA), Westpac, ANZ, and Bendigo and Adelaide Bank kept at least two million low-income Aussies in high-fee accounts, including First Nations customers and many relying on Centrelink payments.