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CBA’s Colonial agrees to $20M penalty for misleading MySuper statements
Financial Services 2021-10-12 5:43 pm By Bianca Hrovat

The Commonwealth Bank’s wealth management unit has agreed to cough up $20 million in penalties for misleading thousands of fund members during the transition to […]

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FWO alleges Commonwealth Bank ‘knowingly’ underpaid staff $16.4M
Employment 2021-10-11 4:09 pm By Miklos Bolza

The Fair Work Ombudsman has taken the Commonwealth Bank of Australia and CommSec to court for allegedly knowingly underpaying almost 7,500 employees over $16.4 million […]

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CBA settles with former head of governance who complained of ‘excessive workload’
Employment 2021-10-06 2:57 pm By Cat Fredenburgh

The Commonwealth Bank has resolved a case brought by former head of governance and company secretary Kara Nicholls, who resigned from the bank on Tuesday […]

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Colonial must give class action info on financial position after ‘unsatisfactory’ liability transfer
Financial Services 2021-10-05 2:11 pm By Cindy Cameronne

A judge has told a Colonial First State Investments unit to provide information about its financial position to the lead applicant in a class action […]

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ANZ, CBA face class action over fees charged on home, personal loans
Financial Services 2021-09-29 9:28 pm By Miklos Bolza

The New Zealand arms of ANZ and the Commonwealth Bank have been hit with a multimillion dollar class action alleging they have failed to repay […]

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CBA to plead guilty to 30 criminal charges over sale of consumer credit insurance
Financial Services 2021-09-16 2:11 pm By Christine Caulfield

The Commonwealth Bank will plead guilty to criminal charges following an ASIC investigation over misleading representations to customers who purchased add-on consumer credit insurance. CBA […]

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ACCC to probe Apple Pay restrictions on banks
Competition & Consumer Protection 2021-09-13 2:26 pm By Bianca Hrovat

The Australian Competition and Consumer Commission is investigating competition concerns about Apple’s refusal to allow third party access to the near-field communication chip that allows […]

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CBA unit faces penalty for misleading superannuation members
Financial Services 2021-09-08 2:25 pm By Miklos Bolza

Commonwealth Bank of Australia unit Colonial First State Investments is facing penalties after the Federal Court found it misled its customers about their rights and […]

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CBA faces climate change action over oil and gas project finance
Energy & Natural Resources 2021-09-01 10:18 pm By Christine Caulfield

The Commonwealth Bank of Australia faces shareholder action seeking records on its financing of gas and fossil fuel projects to ensure compliance with the bank’s […]

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CBA slams class action’s ‘shameless’ attempt to obtain CEO’s emails
Class Actions 2021-08-26 2:13 pm By Bianca Hrovat

The Commonwealth Bank of Australia has slammed an attempt by a class action to “trawl through” its Chief Executive Officer’s emails in search of correspondence […]

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