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Macquarie Bank to pay $14m penalty after confusing ‘welcome rate’ promotion

November 11, 2026 · 1:23 am 1 sources

Image: The Guardian

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  • Macquarie Bank to pay $14m penalty after confusing ‘welcome rate’ promotion
    The Guardian · November 11, 2026 01:23
    Asic says customers should not have to check every transaction to ensure they receive the correct interest Macquarie Bank is set to pay a $14m court-imposed penalty after it admitted to breaking the Corporations Act with its “welcome rate” promotions. The penalty comes amid a crackdown by…

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