Original article by James Eyers
The Australian Financial Review – Page: 17 : 3-Jul-24

The ANZ Bank says it has significantly increased the number of employees who manage deceased estates cases, after it was formally sanctioned for charging fees to customers who had passed away. The Banking Code Compliance Committee’s chairman Ian Govey says it generally only sanctions banks for the most serious and systemic breaches of the Banking Code of Practice, and ANZ’s non-compliance justified such action. ANZ has paid remediation of $3.2 million to 18,852 deceased estates since early 2024.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, BANKING CODE COMPLIANCE COMMITTEE