Brief: Australia's ASIC Says Federal Court Orders Westpac To Pay A$26 Million Penalty

Westpac Banking

27/05/2026 02:18

May 27 (Reuters) - AUSTRALIA'S ASIC: 
FEDERAL COURT ORDERS WESTPAC TO PAY A$26 MILLION PENALTY FOR HARDSHIP FAILURES
WESTPAC HAS BEEN ORDERED TO PAY A$26 MILLION IN CIVIL PENALTIES FOR FAILING TO RESPOND TO CUSTOMERS WHO WERE FACING FINANCIAL HARDSHIP
PENALTY ORDERED AFTER FINDING WESTPAC FAILED TO RESPOND TO OVER 200 ONLINE HARDSHIP REQUESTS WITHIN TIME REQUIRED BY LAW OVER NEARLY 6 YEARS FROM 2017 TO 2023
WESTPAC MADE ADMISSIONS OF CONTRAVENTION IN PROCEEDING AND PAID MORE THAN A$1.7 MILLION IN REMEDIATION TO AFFECTED CUSTOMERS

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