27-May-2021 • Corporate
ME Bank (ME) today announced it had been served by the Commonwealth Director of Public Prosecutions (CDPP) in relation to proceedings against ME Bank for alleged contraventions of the Australian Securities and Investments Commission Act 2001 (Cth) and National Credit Code.
The alleged contraventions concern home loan customer communications in the period September 2016 to September 2018, and arise from issues that were addressed in 2019.
These issues were reported by ME to ASIC in October 2018. Affected customers were remediated by June 2019. Remediation to affected customers was in the order of $105,000.
ME confirms the matters identified in relation to the home loan customer communications have been addressed and are not ongoing.
As these matters are before the Court, ME does not intend to comment further at this time.
Ends.