Westpac's Australian parent to settle a 7th ASIC case

Tue, 07 Dec 2021

Westpac's Australian parent will agree to settle a seventh case against it brought by the Australian Securities and Investments Commission (ASIC), according to The Australian newspaper.Last week, Westpac agreed to pay A$113 million (NZ$118m) to settle six cases brought by the ASIC.The newspaper said the seventh case involves Westpac selling consumer credit insurance (CCI) products to customers who hadn't agreed to purchase the products and the ASIC will seek a financial penalty of less than A$10m to settle it.The case involves Westpac&#...

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