An Australian court has fined ANZ Group Holdings A$10 million ($6.6 million) in penalties for non-compliance with consumer credit protection laws in a case that stems from the country's Royal Commission proceedings, a corporate watchdog said on Friday.The Australian Securities & Investments Commission (AS
An Australian court has fined ANZ Group Holdings A$10 million in penalties for non-compliance with consumer credit protection laws in a case that stems from the country's Royal Commission proceedings, a corporate watchdog said on Friday.
"The program received considerable criticism in the Financial Services Royal Commission for exposing consumers to an additional layer of risk by insulating the lender from what the intermediary does with the borrower," the ASIC said in a statement.
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