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CBA to pay $7m for overcharged interestBY ANNABELLE DICKSON | THURSDAY, 8 APR 2021 12:11PM
The Federal Court has imposed a $7 million penalty on Commonwealth Bank for charging higher interest rates on business overdraft accounts than what it advised its customers over a four-year period.
Read more: CBA, ASIC, Commonwealth Bank, Justice Lee, Sean Hughes
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Media Super is increasing its administration fees and insurance premiums, despite a pending merger with $60 billion industry fund Cbus.
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A newly created team, led by a former BlackRock regional executive, is boosting the international manager's presence in Australia as it launches its first pan-Asia strategy.
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The inclusion of superannuation administration fees in the Your Future, Your Super performance benchmark will not punish funds that reduced fees in recent years, according to minister for superannuation Jane Hume.
The ratings house has appointed a new chief executive, after it announced Charlie Haynes's impending departure last month.
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