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Awaiting judgment in Federal Court class actions by shareholders over its money laundering risk disclosures, the Commonwealth Bank will ask the court to reopen the case to consider the relevance of two recent decisions that found shareholders in other class actions had failed to prove loss.
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.