Posted 10/1/2023, 12:05:15 AM
Australian Bank Fined Millions for Misleading Credit Card Customers with Hidden Fees
- Billion-Dollar Australian Bank Fined $9.6 Million for Misleading Credit Card Customers
- Bank Charged 186,000 Accounts Hidden Fees by Falsely Advertising "Available Funds"
- Customers Thought They Could Withdraw Fees & Interest-Free Based on Displayed Balance
- Bank Failed to Act Quickly to Remedy Issue Over Several Years
- Bank Paying $5.3 Million in Remediation to Impacted Customers Alongside Fine