'Grubby' ANZ given huge fine for ripping off government, customers
ANZ has been handed a fine approaching a quarter of a billion dollars for 'unconscionable conduct' towards 65,000 customers and the government.
ANZ has been under constant scrutiny for a decade - and has repeatedly failed to live up to regulatory and reasonable standards. (Image source: Casimiro PT/Shutterstock.com)
Serial offender ANZ has been fined a record $240 million for “widespread misconduct” that impacted almost 65,000 customers, including many of its most financially vulnerable borrowers.
ANZ has agreed to pay the penalties that were determined by the Australian Securities and Investments Commission (ASIC), although it will still need to be approved by the Federal Court before official enforcement.
The latest finding against ANZ towers above its o…
