December 17, 2019 / 5:41 AM / a month ago

Australian regulator takes NAB to court for charging fees for no service

Dec 17 (Reuters) - Australia’s markets watchdog on Tuesday said it commenced court action against National Australia Bank for charging fees for no service and for failures in disclosing fees appropriately.

“NAB engaged in unconscionable conduct from at least May 2018 by continuing to charge ongoing service fees to certain customers,” the Australian Securities & Investments Commission said in a statement.

Reporting By Rushil Dutta in Bengaluru; Editing by Tom Hogue

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