ANZ is facing a $240 million fine for widespread misconduct, as the financial regulator expresses frustration with ongoing compliance issues at the bank.

The financial institute has admitted to unconscionable conduct relating to a bond trading scandal, misleading customers about interest rates on savings accounts, and failing to swiftly respond to hardship notices and fees charged to dead customers.

ASIC deputy chairwoman Sarah Court has told Bill Woods it affects trust in financial institutions.

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