NABPF News: Australia fines lender NAB $1.4 million for wrongfully charging fees - 22nd Sep 2023, 12:17pm

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(Reuters) -The Australian Federal Court has fined the country's second-biggest lender National Australia Bank (NAB) a penalty of A$2.1 million ($1.4 million) for wrongfully charging customers periodic payment fees, the securities regulator said on Friday.

Between January 2017 and July 2018, National Australia Bank continued to charge its customers periodic payment fees for transferring money despite knowing it had no contractual entitlement to do so, the Australian Securities & Investments Comm...

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