In its annual report, the committee said the breaches occurred within Bendigo and Adelaide Bank's Great Southern Loans business from February 2015 to February 2019.
"We acknowledge the work the bank has undertaken to date to address the issues that came to light following an audit … and to fix the root causes to ensure code compliance." The committee slapped Bendigo and Adelaide Bank for "serious and systemic" breaches in the following areas: debt collection, financial difficulty, complaints handling, privacy and confidentiality, training and competency, and acting fairly and reasonably.Just naming a bank for breaching the code is not enough, said Elise Bant, a professor of private law and commercial regulation at UWA Law School.
if the banks charge but freeze the interest on deposit then they are culpable..but if the interest flows it is up to the relative to close the account..banks cant keep a track of who is dead and who is alive..
I'd happily be named and shamed to get away with stealing millions.
They are grubs. My father died a couple of months ago. His depositing accounts were frozen very quickly but we are still being charged interest on the credit cards while we wait for the documents we need for probate
trusted? not anymore. Toss that TV ad in the bin. Shame on you. bendigobank SkyNewsAust newscomauHQ
How much did the big 4 pay to not be named first.
But of course not the 'Big Four!'
More banks to follow And the fool Frydenberg wants to give them more power
Such a severe punishment 🙄 definitely stops them from doing it again...