National Australia Bank failed to respond to pleas for help from hundreds of customers facing financial difficulties, the corporate regulator has claimed as it launched Federal Court action against the bank on Monday, alleging several breaches of the credit code.
Some of the affected NAB customers were victims of domestic violence; some others had serious medical conditions. The Australian Securities and Investments Commission set out in legal documents how calls to the bank fell on deaf ears.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
