Westpac fined $3.25m for misleading customers

Westpac has been fined $3.25 million for misleading representations related to advertised discounts, which resulted in overcharging 24,621 customers by a total of $6.35 million. The bank admitted its conduct in December after civil proceedings were initiated by the Financial Markets Authority (FMA). A spokesperson for Westpac stated that the bank fully cooperated with the FMA’s investigation.

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