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Showing 141 - 150 of 1264 results for "CBA"

Queensland bans Dollarmites

KARREN VERGARA  |  TUESDAY, 27 APR 2021
... school-banking program. Queensland minister for education Grace Grace announced her department will not renew its agreement with CBA when it ends on 31 July 2021. The moves come off the back of ASIC's landmark investigation into the school-banking program ...

CBA to pay $7m for overcharged interest

ANNABELLE DICKSON  |  THURSDAY, 8 APR 2021
... business overdraft accounts than what it advised its customers over a four-year period. Following an investigation by ASIC, CBA admitted to false or misleading representations and engaged in misleading and deceptive conduct over to 12,119 occasions from ...

ASIC sues CBA over monthly fees

ANNABELLE DICKSON  |  THURSDAY, 1 APR 2021
... against Commonwealth Bank over allegations it wrongly charged monthly fees to customers over a nine-year period. ASIC alleges CBA incorrectly charged $55 million in monthly access fees to nearly one million customers who met criteria that entitled them ...

ABC, ISH arrangement faces scrutiny

KARREN VERGARA  |  MONDAY, 29 MAR 2021
... added, how much the correspondent is getting paid, or the terms and conditions of the agreement. If this was Westpac, AMP or CBA or any other institution, Falinski said he had no doubt that APRA and ASIC would be all over them like a "ton of bricks". ...

ANZ, CBA settle class action

ANNABELLE DICKSON  |  MONDAY, 22 MAR 2021
ANZ and Commonwealth Bank (CBA) have both reached an agreement to settle a class action in the US related to the trading of bank bill swap (BBSW) products in 2016. The class action commenced in 2016 in the United States District Court for the Southern ...

Chances of CBA admitting to Essential Super wrongdoing "non-existent"

JAMIE WILLIAMSON  |  FRIDAY, 12 MAR 2021
Lawyers for Commonwealth Bank (CBA) and Colonial First State (CFS) in its ongoing case against ASIC have told the court the parties have no intention of admitting to any contraventions in relation to Essential Super and an alleged $22 million in conflicted ...

ASIC takes NAB to court

KANIKA SOOD  |  THURSDAY, 25 FEB 2021
... it charged customers higher interest on overdraft fees than was disclosed to them. This went on for four years and netted CBA $2.2 million in extra interest payments, ASIC alleged. The CBA case is set for an April 6 hearing for court to make orders on ...

CBA guilty of deceptive conduct

ELIZA BAVIN  |  WEDNESDAY, 17 FEB 2021
... Australia made false or misleading statements and engaged in deceptive conduct on over 12,000 occasions. Justice Lee found that CBA breached financial services law 12,119 times when charging a rate of interest on business overdraft accounts substantially ...

Banks return $1.2bn for bad advice

ELIZA BAVIN  |  FRIDAY, 12 FEB 2021
... returned to customers who suffered loss or detriment due to fees for no service misconduct or non-compliant advice. AMP, ANZ, CBA, Macquarie, NAB and Westpac undertook the review and remediation programs to compensate affected customers as a result of ...

CBA slashes profits, boosts dividends

KARREN VERGARA  |  WEDNESDAY, 10 FEB 2021
... 2020 half-year results show the bank's net-profit after tax dipped 21% to $4.9 billion on the prior corresponding period. CBA chief executive Matt Comyn blamed the pressures of COVID-19, particularly the effects of loan impairments and higher expenses ...