BMW Ordered to Pay A$77 Million in Australia Lending Case

Newswire

FRANKFURT, Dec 6 (Reuters) - Australia's corporate regulator said on Tuesday that German carmaker BMW has to pay A$77 million ($57 million) to compensate customers who received loans they could not afford, in what is Australia's largest ever consumer credit remediation programme. The payments will compensate at least 15,000 customers who may have suffered hardship between January 2011 and August 2016 due to loans received from local financing unit BMW Australia Finance Limited, the ...

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