Connect with us

Business

ME Bank redraw breaches ‘serious and systemic’ – Sydney Morning Herald

ME Bank has been named and shamed by an industry body over last year’s bungled changes to redraw accounts.

Published

on

Article feature image

ME Bank has been named and shamed by an industry body over last years bungled changes to redraw accounts, which amounted to serious breaches of the banking code of practice.
The Banking Code Compliance Committee (BCCC) which oversees the code, on Tuesday issued findings from its inquiry into ME Banks controversial changes to redraw facilities. These are products that let customers withdraw money they have put into their home loan above the minimum repayments.
ME Banks bungled changes to redraw facilities…

Click here to view the original article.

Continue Reading
Advertisement

You might also like ...

Article feature image
Investors at odds on how to read the tech rout – The Australian Financial Review
Two ASX 200 retail shares tipped as Federal budget winners