ING coughs up $24 million in refunds
ING Australia said it would pay back $24 million to about 25,000 customers because of errors in working out unit prices three years ago. The errors occurred when ING and ANZ Bank merged their wealth management businesses. ING Australia said $14 million would be paid to investors as compensation, either by adjusting the value of their units or making cash payments. Another $10.5 million would be paid into the affected investment funds.