Westpac won’t respond to customer pain

In the bank's annual “stakeholder impact report” Westpac said that “we know that fee and pricing initiatives implemented in early 2006” irritated customers, but the report implies that the bank won't be reversing any of those increases. The report also acknowledges three operational failures during the year relating to calculation of fees and interest on same consumer loans, as well as controversy over unsolicited credit card offers. The bank will contact customers to discuss management of mortgage repayments.