Business
CBA sued for overcharging pensioners, first home buyers – The Australian Financial Review
The Australian Securities and Investments Commission alleges the bank incorrectly charged $55 million in fees to one million customers over almost a decade.
In a concise statement filed in the Queensland branch of the Federal Court yesterday, ASIC alleges the bank was first informed by auditors PwC that it may be breaching conditions of its Australian Financial Services Licence on November 29, 2018. Executives at the bank and its CEO Matt Comyn were informed of the auditors findings the same day.
Around 12 different account types were affected by the failures including passbook accounts, cash management accounts and investment accounts.
The corporate…
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