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Bank penalised for charging dead people


Eldorado
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Australian banking giant Westpac has admitted to breaking the law after it was hit with six lawsuits by regulators over its poor treatment of customers, including charging fees to dead people.

It will pay $81m (A$113m; £61m) in penalties, subject to court approval.

The bank will also hand $57m of compensation to its customers.

The Australian Securities and Investments Commission (ASIC) said Westpac needs to urgently improve its "poor compliance culture".

https://www.bbc.co.uk/news/59470666

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Just now, Sir Wearer of Hats said:

They’ve been fined for charging dead people again. 
 

Well if they are going to vote they are going to be noticed by the bank. 

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1 hour ago, psyche101 said:

Well if they are going to vote they are going to be noticed by the bank. 

Clearly government overreach.  Where are the complaints?

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1 hour ago, Golden Duck said:

Clearly government overreach.  Where are the complaints?

They fell on dead ears.

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59 minutes ago, Sir Wearer of Hats said:

They fell on dead ears.

 Yes it is an awful way of making money, some may even say it is truly morbid and a deadly way to get rich, but overall  it's nothing that will make the Dead roll In their coffins. :yes: The thing I think will interesting is when the psychics hold their Seances in the court room so their clients can stay up to date. But the best part will be when they exhume the graves and bring their clients into the court room to take the stand and to testify using a Wigi Board. :lol: Talk about about a frightening witness, if the defence p***es them off they could literally come completely unglued about on the stand, :w00t: :yes: then I don't know how they will continue the trial, and I bet the Dammed defense will try to get a miss trail, nowcthat would really be a dirt trick!:angry:

Anyway you look at like this it's going to be very exciting especially when the plaintive testifies I can't  wait to watch it but I have heard the trial has postponed until next All Hollows Eve! :devil:

Dam shame really, but you must keep your sense of humor even in the worst case like when the judge was holding a pretrail meeting with both parties and everyone started laughing because he was staring his coffee with a misplaced finger bone from one of clients, I hear they were going to also sue the dam judge for damages!!:lol::D

 

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This bank is shooting itself in the foot.

Since Covid-19, dead people are a growing demographic.

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18 hours ago, Sir Wearer of Hats said:

They’ve been fined for charging dead people again. 
 

That's so disgusting that the penalty should be catastrophic.  It should hurt badly enough that no one ever tries it again.

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6 hours ago, and then said:

That's so disgusting that the penalty should be catastrophic.  It should hurt badly enough that no one ever tries it again.

$113million or so. 

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23 hours ago, Golden Duck said:

One of the Big Four is too big to fail.

Or too big to be fined effectively by the regulator.

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