April 8 (Reuters) - Westpac Banking Corp WBC.AX :
* WESTPAC ACKNOWLEDGES ASIC CIVIL PROCEEDINGS ON CCI-WBC.AX
* ASIC COMMENCES CIVIL PROCEEDINGS IN RELATION TO SALE OF CONSUMER CREDIT INSURANCE
* PROCEEDINGS RELATE TO ALLEGATIONS THAT WESTPAC SUPPLIED CCI TO CERTAIN CUSTOMERS WHO HAD NOT REQUESTED OR AGREED TO ACQUIRE THIS PRODUCT
* WESTPAC IS CAREFULLY CONSIDERING THESE CLAIMS AND IS COMMITTED TO WORKING CONSTRUCTIVELY WITH ASIC THROUGH COURT PROCESS
* WESTPAC HAS NOT SOLD CCI PRODUCTS SINCE 2019
* ACKNOWLEDGES PROCEEDINGS ANNOUNCED BY ASIC ON SALE OF CONSUMER CREDIT INSURANCE (CCI) PRODUCTS TO APPROXIMATELY 384 CUSTOMERS
* ASIC SEEKING DECLARATIONS OF CONTRAVENTIONS OF CERTAIN CIVIL PENALTY PROVISIONS, UNSPECIFIED MONETARY PENALTIES FROM 7 APR 2015-28 JULY 2015