Macquarie rebuts 7.30 report on loan fraud

Macquarie Bank said the report by the ABC's 7.30 current affairs program on Wednesday - dealing with the alleged coaching of a financial adviser to fraudulently submit a home loan application - was deliberately misleading and inaccurate. Banking Day abstracted 7.30's transcript of the broadcast yesterday.

The bank said 7.30 did not put key allegations to Macquarie, nor was it was afforded a right of response to the allegations that comprised the majority of the report.

Macquarie said its integrity office investigated the complaint in 2010 "in detail [and] found no evidence" that supported the claims "and in fact found evidence which contradicted" the complaint.

The bank said it will be lodging a formal complaint with the ABC about breaches of its editorial policies.