The financial services union has compelled Australia’s largest bank to face the workplace umpire after trying to change its work-from-home arrangements. The Commonwealth Bank (CBA) must front up to a Fair Work Commission hearing after the Finance Sector Union (FSU) filed its dispute on July 12. Management had notified their 49,000 employees that they needed…
Australia’s Largest Bank Embroiled in Dispute for Asking Workers to Return to the Office
July 13, 2023
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Australia’s CBA, ANZ Sued in New Zealand for Missed Loan Interest Refunds
Two of Australia’s “big four” banks are facing a multi-million dollar claim in New Zealand for not refunding more than 150,000 customers the interest and fee charged following an alleged breach in disclosing changes to loan agreements. The class-action lawsuit said Kiwi units of Commonwealth Bank of Australia and Australia and New Zealand Banking Group…
Australia’s Biggest Bank Hires Hundreds to Speed Up Home Loans
Australia’s biggest bank has hired hundreds of people to keep up with a deluge of home loan applications, as property industry veterans say bank pre-approval delays mean buyers are missing out. Commonwealth Bank has hired about 400 new staff and has told AAP its workers are doing thousands of hours of overtime to keep up…
Commonwealth Bank Boss Expects Rules for Pay Later Firms
Commonwealth Bank boss Matt Comyn expects scrutiny and regulatory concerns to increase for buy now, pay later providers, despite authorities declining to impose conditions on the credit providers. Comyn on January 28 remained convinced that the likes of Afterpay and Zip, which tend to charge late payment fees rather than interest, will eventually face tighter…
Australian States On Watch for School Banking Programs Following ASIC’s Review
The Australian Securities and Investment Commission (ASIC) has said there is no solid evidence showing that school banking programs have helped children develop long-term saving habits, In a report, published on Dec 15, ASIC said that its two-year review into school banking programs has demonstrated that school banking programs have exposed vulnerable young children to sophisticated…
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