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Commonwealth Bank of Australia has resolved a lawsuit brought by a former general manager alleging he lost his job for blowing the whistle on a system allegedly used by staff to inflate their bonuses.
A high ranking executive from the Commonwealth Bank of Australia has warned that an increase in class actions could discourage Australia's best corporate leaders from joining company boards.
A class action has been filed against the Commonwealth Bank of Australia over commissions grandfathered by the Future of Financial Advice reforms.
The Australian Securities and Investment Commission will not take action against the Commonwealth Bank of Australia or any of its directors of officers in relation to AUSTRAC proceedings the bank agreed to settle for $700 million in 2018.
The Commonwealth Bank of Australia has denied that it received any benefits through the sale of its Essential Super product, rejecting claims by Australian Securities and Investments Commission that it breached the conflicted remuneration provisions of the Corporations Act.
Insurer QBE wants to downsize a massive class action brought against it and banking giant ANZ over the sale of allegedly worthless add on insurance.
Australia's largest financial services institutions have paid or offered to pay more than $882 million to remediate customers affected by their fees for no service conduct, the Australian Securities and Investment Commission has revealed.
The Commonwealth Bank of Australia has been hit with another class action for allegedly pushing insurance policies with excessive premiums onto customers.
Australia and New Zealand Banking Group and Commonwealth Bank of Australia have lost a third attempt to escape a rate-rigging class action in the US, with a judge calling the banks' arguments unpersuasive.
Shine Lawyers is investigating two new class actions against Commonwealth Bank of Australia and Westpac's BT Funds Management over allegedly excessive insurance premiums, a week after filing a similar case against AMP's life insurance arm.