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Westpac flags $235m hit to earnings for advice scandal, litigation

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Westpac has increased its provisions for recent litigation and refunds for customer who were charged for inadequate or non-existent financial advice

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Westpac cuts earnings to fix customer refunds, but more likely followWestpac says its earning will take a $235 million hit this year due to remediating customers for bad, or no advice. It is unlikely to be the last adjustment according to analysts.
Source: abcnews - 🏆 5. / 83 Read more »