Australia fines lender ANZ $9.6 million for misleading customers over funds
-Australia's corporate regulator said on Tuesday the federal court has ordered ANZ Group Holdings to pay a penalty of A$15 million for misleading customers about funds available in certain credit card accounts.
The error resulted in customers being charged with thousands of dollars in fees while the average remediation paid was around $45 per affected account. So far, the country's fourth-largest bank has provided remediation payments of more than A$8.3 million to about 186,000 accounts that were charged with fees and interest between May 2016 and November 2018.
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