Amid a sea of troubles – including the premature loss of their CEO and a money-laundering scandal – the CBA is facing a shareholder lawsuit.
AAP Image/Dave Hunt
A new lawsuit against the CBA puts climate change in a new legal light: a financial hazard. The case opens up fresh lines of attack on institutions that contribute to climate change.
The Australian Transactions Reports and Analysis Centre (AUSTRAC) has launched civil proceedings accusing the CBA of being complicit in money laundering.
The Australian public may be vulnerable to crime and terrorism directly funded through the Australian banking system.
There are better ways of dealing with distortions caused by the bank than the government’s quick, politically opportunistic, measure.
The new levy on banks from the budget is a small hit to their profit but it could have unintended consequences.
There are mixed results in research when it comes to the effect of shaming people into good behaviour.
Studies have shown that shame can motivate people to be both helpful but also vengeful, so the verdict is still out on whether it curbs bad behaviour.
It’s too soon to say what advantages there are to issuing government bonds using blockchain technology.
Despite a media statement announcing that Commonwealth Bank of Australia (CBA) and Queensland Treasury Corporation (QTC) have created the first government bond using the blockchain (dubbed the “cryptobond…
The ACCC has blocked the big four banks from bargaining with Apple for more control over Apple Pay.
The banks could have used their collective bargaining power not only against Apple for Apple Pay but also stall the adoption of mobile payments in Australia.
ASIC has been highly critical of some of the practices of Australia’s big four banks.
An ASIC report detailing how financial advice was paid for but not given by Australia's big four banks exposes a culture problem that the government needs to deal with.
Commonwealth Bank chief Ian Narev was the first to appear before a parliamentary committee inquiring into the practices of the big four banks.
When the cash rate increases, lending rates shoot up like rockets, but when the opposite occurs they go down like feathers.
NAB Group CEO Andrew Thorburn will this week answer questions from another committee inquiring into banking practices.
To boost competition in banking we should give consumers better access to data and account number portability.
Bank customers are tired of the excuses.
The universal reform of the banking system will take more than another inquiry.
Increased requirements from APRA could have been a good thing for Australia’s big four banks.
Australia's big four banks are managing risk well, this could be contributing to their strong performance.
Professor Allan Fels speaks about the compensation process for underpaid 7eleven workers.
Former ACCC head comments on calls for a royal commission into the banking sector.
Malcolm Turnbull has downplayed calls for a royal commission into the banks, arguing that their operations are already well governed.
The politics that Malcolm Turnbull and the big banks support is one in which people are robbed of their citizenship and reduced to economic functionaries.
Company brands are hard to create, easy to damage.
Dissonance by the banks - saying one thing but acting in another way - will cause brand damage that will be very difficult to repair.
Banks must accept they can’t control the values, beliefs and behaviours of their employees.
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Banks may pay lip service to ethical cultures but often curtail the critical questioning that allows ethical issues to be surfaced in the first place.
Large Australian banks are being required to significantly increase their levels of equity capital.
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Investors may not like it but Australian banks have been given little choice by the prudential regulator other than to undertake capital raisings.
The Commonwealth Bank’s chief executive Ian Narev apologised to clients given poor financial planning advice.
Major banks including the ANZ, NAB, the CBA and Macquarie have faced a public humbling, but professed contrition must become real action.
A rare win for investors: Litigation funder IMF (Australia) helped fund a class action case against Grange Securities, which was found to have misled unsophisticated investors.
Justice Steven J. Rares was blunt when he handed down his judgement in the long-running class action, Wingecarribee Shire Council vs. Lehman Brothers Australia, last week. Grange Securities, a subsidiary…
Three of Australia’s Big Four banks have opted to offshore part of their financial operations to Asia.
Reports of more offshoring of jobs from Australia to other countries are, seemingly, a daily occurrence. Such reports include, for example, the manufacturing of cars and their components and aspects of…