NAB has come under fire for allegedly not responding to over 345 hardship requests between 2018 and 2023.

Vulnerable customers that could be facing issues such as domestic violence, illness and job loss.

The Australian Securities and Investments Commission (ASIC) initiated legal proceedings against NAB and its subsidiary, AFSH Nominees Pty Ltd.

ASIC seeks penalties and reform, in a path to force financial institutions to protect the most vulnerable, who are being ignored by banks.

Dr Dominique Meyrick, CEO of Financial Counselling Australia, claims that incidents like these are significant for people who already face hardship.

Image: Image: Shutterstock: Tammy27

Produced By: Anders Linden

Featured In Story: Dr Domenique Meyrick, Co-CEO of Financial Counselling Australia

First aired on The Wire, Wednesday 20 November 2024