The Commonwealth Bank of Australia (CBA) has been fined AU$150,000 (US$107,050) by the Federal Court on October 22nd for upping the credit card limit of a problem gambler.
The bank has breached the National Consumer Protection Act 2019, according to the Federal Court.
The Bank Knows
The client, David Harris, has specifically made the bank aware of his gambling addiction in October 2016. A r[...] Read more » Aussie Bank Fined $150,000 for Upping Problem Gambler's Credit Limit
Joined: Sep '19
Location: Peru
Age: 29 (M)
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It is important for both parties to evaluate if the loans to play in arcades are feasible, well, both parties have some fault, first the bank for giving money to an additive to the games and losing enough money than they earned, and the player for spending without measuring consequences, well the judges will do their job and decide which is the best way to solve this case, that is why today there is enough verification by banks before making a loan of money to a person.
Joined: May '09
Location: Croatia
Age: 39 (M)
Posts: 20400
so if did get everything right and did understand everything,now bank need to pay as court say 150 000 aus dollars because of this,but this man still need to pay back them amount that he spent on gambling?so this man again didnt got anything and he still need to back money!its strange decision!would be better for him that instead of this fine,he dont need to back money and all sides would be happy!
Joined: Jan '14
Location: Romania
Age: 44 (M)
Posts: 13298
Aussie bank deserved that fine for violating law and allowing the man to exceed established percentage by Australian state to protect gamblers. It was not necessary to do this thing because that man had to eat, pay bills etc...
Joined: May '09
Location: Croatia
Age: 39 (M)
Posts: 20400
for me best situation for all would be that court make decision where bank need to pay fine,but this mean dont have to put back money to bank,because on this way he will back money to them and they will pay fine and lose much less,because he made debt to this bank! ofcourse everybody have own fault in this,so they need to share it,but they could do on some other way!
Joined: Dec '14
Location: Greece
Age: 40 (M)
Posts: 2118
Strange case, if itwas a gambling operator or room , live or online , I would understand it , but a bank ?? ...hmmm . Anway , the law enforces some things that the bank didn't do right , so that's why now it has to pay this fine , as it seems it tried to win more koney from this worker , who was gambling carelessly . But I would say he has the most responsililities on how to spend his money or handle his gamble addiction or situation ,not the bank .
Joined: Jan '14
Location: Romania
Age: 44 (M)
Posts: 13298
Decisions are made at the government level, because online poker has terrorized certain politicians who have chosen ''to destroy'' this industry... when they have banned many countries from playing permanently ( USA which returns with different states ), or from playing with external players ( it was allowed only at the national level ).
Joined: Dec '14
Location: Greece
Age: 40 (M)
Posts: 2118
So , he informed the bank of his gambling problem , so th bank ought to protect him by enforcing a limit on his spendings on his creditcard , but instead it proposed increasedments in spendings and new limits , so it is now credied to be responsible for his breach of spending limits and gambling addict behavior . A little too far imo , if it was the gambling operator I would have agreed up to a certain point , now no . Even in the scenario of a gambling operator or platform ,, we would examine the facts and everyone's actions , the gambler has his responsibilities how he bets ,
Joined: May '09
Location: Croatia
Age: 39 (M)
Posts: 20400
yeah,they done everything to allow him to gamble,but both will pay it!bank to goverment because of their move and this man,that will need to back money to bank!ofcourse he did spend this money and thats ok,but bank will not lose much with this fine,because they will get almost whole amount from him,instead that he dont have to back this money and that they pay fine!
Joined: Jan '14
Location: Romania
Age: 44 (M)
Posts: 13298
In Romania, if i had a limit on gambling deposits, it would be very good. Other countries are starting to take action. United Kingdom, Australia etc ... I think they are afraid because is possible to have a big series of complaints like in the past.
Joined: Sep '19
Location: Peru
Age: 29 (M)
Posts: 5365
In some countries these rules exist that they have to watch over their clients, well the bank is responsible, since it is a current rule and they should comply with it, because if it were not so, everyone would go bankrupt and there would be no controls, even if the money is of him and he decides to spend it on anything, the bank should take measures so that his family is not affected.
Joined: May '09
Location: Croatia
Age: 39 (M)
Posts: 20400
ofcourse this is not normal situation,especially when we know that he told them that he have problems with gambling and that still gave him big amounts to spend without asking him,so this is something that normal goverment want to stop!but because of this fine,he shouldnt pay whole amount!
Joined: Jan '14
Location: Romania
Age: 44 (M)
Posts: 13298
Human rights will become history in the coming years, because that is the plan of those who want to put domination of entire planet. They took our right to breathe... through a virus who is not dangerous, mandatory vaccinations follow (this is what is being tried) and total slavery where they dictate what to do.
BankrollMob Forum » News » Aussie Bank Fined $150,000 for Upping Problem Gambler's Credit Limit
