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Junk insurance lands Westpac in courtBY KARREN VERGARA | THURSDAY, 8 APR 2021 12:19PM
ASIC is taking Westpac to the Federal Court, alleging it sold junk credit insurance to 384 customers that did not want it and whose accounts were unlawfully debited to pay for the premiums.
Read more: ASIC, CCI, Westpac, Bank of Queensland, Bendigo, Citigroup, Commonwealth Bank, Karen Chester, Latitude Finance Australia, NAB
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Media Super is increasing its administration fees and insurance premiums, despite a pending merger with $60 billion industry fund Cbus.
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A newly created team, led by a former BlackRock regional executive, is boosting the international manager's presence in Australia as it launches its first pan-Asia strategy.
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The inclusion of superannuation administration fees in the Your Future, Your Super performance benchmark will not punish funds that reduced fees in recent years, according to minister for superannuation Jane Hume.
The ratings house has appointed a new chief executive, after it announced Charlie Haynes's impending departure last month.
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