Published: October 07, 2019
Charge increases pressure on Westpac to reveal whether its compensation costs have risen
ANZ says it will take a $682m hit this year to compensate customers who it ripped off over the past decade, adding to a remediation bill that has already climbed into the billions across the scandal-plagued banking industry.
The remediation charge, announced to the Australian Securities Exchange on Tuesday, follows a similar $1.2bn slug revealed by NAB last week and increases pressure on Westpac to reveal whether its compensation costs have also risen.
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