Asic review finds banks repaid millions to borrowers who unknowingly paid too much interest on their home loans
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The corporate regulator has detailed how banks have had to pay tens of millions of dollars in compensation to customers for mortgage offset failures.
In a new report, the Australian Securities and Investment Commission showed lenders repaid $55m to customers over two years after they unknowingly paid too much interest on their mortgages – and warned the number would climb higher.