Macquarie Bank to pay $14m penalty after confusing ‘welcome rate’ promotion
<p>Asic says customers should not have to check every transaction to ensure they receive the correct interest</p><p>Macquarie Bank is set to pay a $14m court-imposed penalty after it admitted to breaking the Corporations Act with its “welcome rate” promotions.</p><p>The penalty comes amid a crackdown by Australian Securities and Investments Commission over c