National
Commonwealth Bank CEO Matt Comyn admits the bank has prioritised profits over its customers, as it faces potentially compensating more than half a million customers sold dud add-on insurance.
Business
A $700 million settlement between financial intelligence agency AUSTRAC and Commonwealth Bank of Australia over money laundering has been welcomed by the Federal Government.
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Treasurer Scott Morrison expects more executives at Commonwealth Bank of Australia will go after a “damning” report by the banking regulator.
Evidence of widespread wage theft and revelations of a rotten culture in the nation’s financial sector point to a social contract in tatters – and will leave a lasting legacy of distrust and decay, writes Malcolm King.
Some Commonwealth Bank advisers charged dead clients for financial advice, in one case for a decade, the banking royal commission has heard.
New Commonwealth Bank CEO Matt Comyn has warned there are difficult times ahead as his institution faces up to a series of failures he has labelled “unacceptable”.
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