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Banks caught gouging customers with high fees
Manage episode 429136643 series 5457
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.
4350 episodes
Manage episode 429136643 series 5457
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.
4350 episodes
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