UPDATE 2-NAB joins other Australian banks in refunding wronged customers
* NAB shares rise 1 pct, in line with market (Recasts adding context, fund manager quote and shares). SYDNEY, Oct 16 (Reuters) - National Australia Bank said on Tuesday it would spend A$314 million ($224 million) on compliance costs and refunding customers it had overcharged, the fourth big Australian bank to compensate wronged customers amid a damaging public inquiry. NAB said some of the earmarked money would refund customers of its wealth-management unit who had been charged for financial advice they had not received. The refunds, compensation for customers and other compliance costs, will reduce second-half cash earnings in 2018 by about A$261 million, or 7.8 percent of cash earnings in the same period last year, and hit discontinued earnings by A$53 million, the bank said.