Commonwealth Bank taken to court for charging customers too much interest – NEWS.com.au

The corporate regulator has launched legal action against the Commonwealth Bank for alleged misleading and deceptive conduct that involved customers being charged too much interest. On Tuesday, the Australian Securities Investment Commission lodged civil proceedings against the country’s largest bank for charging a rate of interest on business overdraft accounts that was higher than customers were advised.
The allegation is in light of evidence detailed to the banking royal commission that revealed…

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