Reported 12 months ago
Australia's ANZ has been sanctioned for failing to stop charging fees from deceased customers and not responding to their representatives promptly, as reported by the Banking Code Compliance Committee. Despite acknowledging the findings and making improvements, ANZ took over a year to address the issues and nearly two years to start the customer remediation program, which is ongoing and expected to be completed by July. The bank will pay around A$3.3 million in remediation to 18,852 affected clients.
Source: YAHOO