Editors Picks
Tuesday, 13 June 2023
Deceased estate concerns
AN inquiry into the handling of deceased estates by six banks in Australia has uncovered poor practices and non-compliance with the Banking Code of Practice. The inquiry found instances of banks continuing to charge fees on accounts of deceased customers, failing to act within required timeframes, and lacking respect and compassion towards representatives and families of deceased customers. The Banking Code Compliance Committee (BCCC) has notified three banks of investigations into their compliance with deceased estates obligations.
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Michael Walls
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