National Australia Bank is the latest bank to be caught up in the Australian Securities and Investments Commission's claims of interest rate rigging, Fairfax Media reports. ASIC has commenced legal action against ANZ and Westpac and is preparing to launch an action against NAB. The banks are accused of manipulating the rate to improve their profits. ANZ's Apple Pay service has suffered some teething problems since its launch last month, Reuters reports. A Bendigo Bank spokesperson told Reuters the bank was having problems accepting Apple Pay payments at merchant terminals. An Apple spokesperson said it was a major technology project and would take time to settle. Reuters said take-up of Apple Pay outside the US had been lower than expected. Danielle Szetho has been appointed chief executive of FinTech Australia, the fintech industry association. Szetho was formerly banking and finance industry head at Fairfax Media, with responsibility for event, content marketing and data solutions for key partners. She joins a recently formed committee that includes president Simon Cant, the managing director of Reinventure Group, and vice president Charlotte Petris, the chief executive of Timelio. Westpac sold A$175 million in a 12-year subordinated transaction last night. With a term to June 2028, Westpac set a first optional redemption date on 14 June 2023. The reoffer margin was set 265 basis points to seven year mid-swap, the bank said. HSBC, Nomura and Westpac Institutional Bank acted as joint lead managers on the transaction.