All posts tagged "fees for no service"
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535Australia & NZNAB Chief Steps Down Amid Royal Commission Criticism
Commissioner Hayne said in his Final Report that NAB “stands apart” from the other major banks and questioned whether its senior leadership was capable of reforming the bank’s culture.
February 8, 2019 -
254Australia & NZAustralian Bank Body Seeks an End to Fees For No Service
The Australian Banking Association will change its voluntary code of practice for bankers to end 'fees for no service', grandfathered payments and trail commissions.
October 11, 2018 -
240Australia & NZ
ASIC Begins Civil Proceedings Against NAB Entities
Two wealth management divisions of NAB are the subject of civil proceedings in an Australian Federal Court for charging over half a million customers fees for no services.
September 10, 2018 -
208Australia & NZ
Royal Commission Hears Full Extent of NAB ‘Fees-for-no-service’ Failings
NAB reportedly misled ASIC about expected compensation payments for customers it charged for services not rendered; the bank also charged advice fees to more than 4000 dead customers.
August 15, 2018 -
282Australia & NZFees-for-no-service Remediation to Top A$850mn – ASIC
CBA has paid or offered compensation over A$118 million so far, with over A$25 million more provisioned for future compensation.
August 9, 2018
