A former Commonwealth Bank manager alleging he was fired by the bank after raising concerns about being overworked says he was told “the job is the job” after a period of stress-related leave.
Group members will walk away with nothing under a settlement in a seven-year old class action against the Commonwealth Bank of Australia on behalf of borrowers who claimed they were forced to default on their commercial loans.
A protracted class action against the Commonwealth Bank of Australia brought by borrowers who claimed they were forced to default on their commercial loans has finally settled, a court has heard.
The High Court has denied a bid for special leave by the Commonwealth Bank and other lenders to challenge a ruling that found two Arrium directors did not mislead them about loan drawdown notices ahead of the steel company’s $2.8 billion collapse.
A judge has approved a $50 million settlement in a class action against the Commonwealth Bank over allegedly worthless consumer credit insurance after his concerns about a $2.5 million deduction for Deloitte were allayed.
CBA should pay a penalty of $12.8 million — close to the maximum penalty the court can impose on the bank — for underpaying its staff to the tune of $16.4 million, a judge has heard.
The Commonwealth Bank of Australia has agreed to backpay thousands of branch staff $3 million to settle a lawsuit alleging it failed to provide employees with paid rest breaks for at least six years.
ASIC has lost its challenge to findings that a revenue sharing arrangement between the Commonwealth Bank of Australia and former subsidiary Colonial First State Investments did not breach conflicted remuneration provisions of the Corporations Act.
A judge asked to approve a $50 million settlement in a consumer credit insurance class action against the Commonwealth Bank has questioned a $2.5 million deduction for professional services firm Deloitte.
The Commonwealth Bank has failed again to dismiss a case brought by customers who claim they were the victims of a money laundering scam known as cuckoo smurfing and had funds seized as proceeds of crime.