Well this isn’t a surprise to any of us on the consuming end of banks!
We know they have been increasing limits, changing our banking fees etc without consent! I’m so so happy that an audit will be happening on “the big 5”. I work directly with the “big banks” on a daily basis, and in my line of work, I see unauthorized mortgage approvals that jeopardize my clients buying process. I hear a TON of stories about banks making changes with NO consent or the client’s knowledge of what has happened.
Employees have admitted to giving poor financial advice so the branch will earn more money!
Lets hope the audit puts less pressure on bank employees and more protection for the consumer!