Big relief for thousands of Australians hit by excess bank charges: $60 million refund to be released as ASIC cracks the whip

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The Australian Securities and Investments Commission is acting against banks. This is regarding unfair charges. Thousands of customers faced excessive fees. They will soon get refunds. A second round of payments is announced. Around 770,000 customers will get sixty million dollars. ANZ and Westpac are among those who will be paying the most. Commonwealth Bank will not pay more. ASIC wants banks to improve their practices.