Fees-for-no-service program (industry-wide)
remediation30 Apr 2018
Facts
Industry-wide remediation following Royal Commission — banks + AMP charged ongoing service fees without providing services.
Outcome
Cumulative $4B+ in customer remediation across banks + AMP through 2018-2023.
Read the source
https://asic.gov.au/about-asic/news-centre/find-a-media-release/Rules Mate links to the regulator's own publication. We do not republish full decision text. Always verify the latest status against the source before acting.