Jul 29, 2026 – 12.01amEight leading banks have been forced to compensate customers more than $55 million for failing to properly manage mortgage offset accounts, the corporate regulator has revealed, in a report identifying poor systems and lack of care by staff as key areas of concern.Seven years after the Hayne royal commission lashed the banks for multiple failings, the Australian Securities and Investments Commission has detailed a litany of problems in the $350 billion mortgage offset account market.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles