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Banks caught gouging customers with high fees

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Manage episode 429136643 series 5457
Content provided by Australian Broadcasting Corporation and ABC listen. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Australian Broadcasting Corporation and ABC listen or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Australia’s banks are once again in the frame for gouging customers with excessive fees and charges, and it's some of the most financially vulnerable who are being hardest hit.

Banks are expected to pay back millions of dollars to customers after an ASIC report found avoidable fees and complicated processes were causing financial harm.

The Australian Securities and Investment Commission says four financial institutions including CBA and Westpac will refund more than 28 million dollars.

  continue reading

4350 episodes

Artwork
iconShare
 
Manage episode 429136643 series 5457
Content provided by Australian Broadcasting Corporation and ABC listen. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Australian Broadcasting Corporation and ABC listen or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Australia’s banks are once again in the frame for gouging customers with excessive fees and charges, and it's some of the most financially vulnerable who are being hardest hit.

Banks are expected to pay back millions of dollars to customers after an ASIC report found avoidable fees and complicated processes were causing financial harm.

The Australian Securities and Investment Commission says four financial institutions including CBA and Westpac will refund more than 28 million dollars.

  continue reading

4350 episodes

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