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NAB to refund over $67 million to MLC customers

National Australia Bank will refund money to hundreds of thousands of superannuation customers of its wealth arm MLC for not providing adequate guidance that they could switch off a financial planning fee. NAB is expected to give back more than $67 million, with the average refund per person about $200. The decision is a result of discussions with NAB's superannuation trustee, NULIS Nominees.

from Finance – syndicated | Daily Telegraph https://ift.tt/2mOC0lm
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