ASIC, NAB clash over $10M penalty exposes ‘vague status’ of concise claims, judge says

Financial Services 2023-06-06 3:53 pm By Sam Matthews | Melbourne

NAB has told a court it should pay a $2 million penalty — not the $10 million proposed by ASIC  — for engaging in unconscionable conduct by overcharging customers, saying the exact words used in the regulator’s concise statement accuse it only of a single contravention.