CBA) share price is on watch today

A pre-market announcement has put the Commonwealth Bank of Australia (ASX: CBA) share price on watch in early trade.

Why is the Commonwealth Bank share price on watch?

Investors will be keeping an eye on the Aussie bank share after an update on its US-based class action. Commonwealth Bank this morning announced that it has reached agreement to settle the ongoing US Bank Bill Swap Reference Rate (BBSW) class action.

The class action commenced in 2016 in the New York District Court against Commonwealth Bank, other banks and brokers. Commonwealth Bank has today reached a settlement in relation to the US BBSW rate rigging allegations.

It…