Regulation sues Westpac for delayed financial hardship notices


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Westpac has been sued by an Australian regulator for allegedly failing to respond to customers who filed financial hardship notices due to an issue with its online process.

The Australian Securities & Investments Commission claims in a federal court lawsuit that Westpac violated the National Credit Code between 2015 and 2022 by failing to respond to 229 customer hardship notices within the stipulated 21-day period. These clients all disclosed their financial difficulties to Westpac.

Many also shared with Westpac their challenging situations and vulnerabilities, such as their inability to work, the effects of severe medical conditions, or their professional obligations.

Read More: Regulator sues Westpac over financial hardship notice response delays

TalkFintech Bureau
TalkFintech Bureau
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.


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