The corporate regulator alleges NAB did not respond to 345 hardship applications within the legal time frame. NAB has apologised and says it's changed its approach.
National Australia Bank has been sued by the corporate regulator for failures in dealing with customers experiencing financial hardship .
"We allege NAB unlawfully failed to respond to their customers' appeal for help when they needed them most," ASIC chair Joe Longo said. In a statement to the stock exchange, NAB acknowledged the legal action and said it disclosed the issue to ASIC in October 2023.
ASIC Financial Hardship Banking Mortgage Stress
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