We really are being charged more than we used to be. If the government is concerned about price gouging, it could try this bold idea: offering its own low-cost bank loans.
Academic rigour, journalistic flair
Articles on Commonwealth Bank
Displaying 1 - 20 of 29 articles
Two of Australia’s major banks have announced they will take action against financial abusers, including closing their accounts.
School banking programs like Dollarmites are being banned in some state schools due to the idea children are vulnerable to marketing tactics. But our research shows this isn’t always the case.
Rather than imposing a straight fine, taking away franking credits would ensure shareholders feel more pain when companies misbehave.
Westpac has admitted to more than 23 million breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act.
AMP’s handling of sexual harassment charges shows its culture is still rotten.
Westpac and the ANZ have suspended dividends payments. The National Australia Bank has slashed them. The peculiarities of our tax system explain why retirees hate this more than they should.
There are better ways to teach financial literacy than through school banking schemes.
Management trumps technology in making companies productive, but that doesn’t mean firms can be complacent when it comes to keeping up with change.
The Commonwealth Bank has agreed to pay a $700 million fine over its inadvertent failure to tackle money-laundering. But the penalty is in line with punishments for far more serious violations by other banks.
The Commonwealth Bank has been given responsibility to fix its own management mess. Regulators could have done a lot more.
Financial literacy is more than numeracy, it requires a healthy scepticism of financial institutions and confidence in making financial decisions.
The Australian Banking Association says ‘nearly 80% of bank profits go straight back to shareholders’, the majority of whom are ‘everyday Australians’. Is that right?
CBA’s risk management strategy clearly states that responsibility rests with the board of the bank for any wrongdoing.
The CBA’s response to AUSTRAC’s claims means shareholders will be assisted in part of their class action claims, but a lot still needs to be proved.
Broadening the royal commission beyond banking may dilute the focus on the banks themselves.
Appearing to co-operate is the best way to try to influence the terms of an inquiry and manage the bad press.
Even though the Prime Minister and heads of the big four banks argue costly political uncertainty is the reason for the royal commission, experts argue the banks’ behaviour itself is the real cost.
Parliamentary hearings reveal a lot of confusion between government, regulators and industry around banking regulation. This needs to be fixed.
One scandal at the CBA stands out above all others, It set the scene for how the CBA board would handle future scandals, that is to obfuscate, prevaricate and litigate.
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Visiting Fellow, Macquarie University Applied Finance Centre, Macquarie University
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Emeritus Professor of Finance, The University of Melbourne
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