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Commonwealth Bank’s gripe with alleged whistleblower’s discovery bid ‘ridiculous’, judge says
Employment 2020-03-27 9:14 pm By Miklos Bolza

A judge has criticised as “meretricious” and “ridiculous” opposition by Commonwealth Bank of Australia to a discovery application by a former general manager who claims […]

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CBA’s Colonial First faces ASIC action over MySuper statements
Financial Services 2020-03-17 9:20 pm By Christine Caulfield

The corporate cop has brought legal proceedings against the Commonwealth Bank’s wealth management unit claiming it made misleading or deceptive statements to over 12,000 fund […]

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ASIC launches two royal commission cases against Commonwealth Bank
Financial Services 2020-03-16 10:35 pm By Christine Caulfield

The corporate watchdog has brought two post-Hayne Commission proceedings against the Commonwealth Bank of Australia, alleging it upped the credit limit of a known problem […]

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Banks have offered $750M in fees for no service refunds so far, ASIC says
Financial Services 2020-02-11 11:22 pm By Cat Fredenburgh

Six of Australia’s biggest financial services institutions have so far paid or offered $749.7 million in compensation to hundreds of thousands of customers who were […]

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Royal commission class actions keep rolling in, one year after Hayne report
Financial Services 2020-01-23 7:13 pm By Cat Fredenburgh

A year after Commissioner Kenneth Hayne released his scathing report, companies in the financial services sector are still facing fresh class actions over conduct aired […]

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CBA’s employee underpayments top $53M
Financial Services 2019-12-13 9:30 pm By

The Commonwealth Bank of Australia has revealed the extent of its employee underpayments, saying Friday the amount owing with interest now topped $53 million.  In […]

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APRA puts conditions on CBA unit Avanteos after charging fees to dead clients
Financial Services 2019-12-11 11:16 pm By Christine Caulfield

CBA subsidiary Avanteos Investments Limited has been hit with extra conditions on its superannuation licence by the Australian Prudential Regulation Authority after it was revealed […]

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CBA unit hit with $700,000 criminal fine for insurance hawking
Insurance 2019-11-28 1:16 pm By Miklos Bolza

The Commonwealth Bank of Australia’s insurance division, CommInsure, has been fined $700,000 for breaching insurance hawking laws in Australia’s first post-banking royal commission criminal conviction, […]

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AUSTRAC sues Westpac for ‘systemic’ money laundering failures
Financial Services 2019-11-20 10:30 am By Cat Fredenburgh

Westpac has been hit with a lawsuit by AUSTRAC for its alleged “systemic” failure to comply with anti-money laundering and counter terrorism finance laws. The […]

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CBA unit pleads guilty to 87 charges over insurance hawking
Insurance 2019-11-19 10:36 am By Miklos Bolza

The Commonwealth Bank of Australia’s insurance division, CommInsure, has pleaded guilty to 87 criminal charges that it hawked life insurance products in unsolicited telephone calls, […]

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