Three of Australia’s “big four” banks settled separate class action lawsuits for A$126 million ($84.51 million) with Slater & Gordon, who took the banks to court two years ago over sale of credit insurance products, the companies said on Monday. …
Commonwealth Bank of Australia, the country’s top lender, said on Thursday it would plead guilty to 30 charges brought against it in the federal court for mis-selling consumer credit insurance (CCI) to its customers. Scrutiny of Australian lenders and financial …
Commonwealth Bank of Australia (CBA) said on Thursday a class action lawsuit had been filed over commissions paid to its former subsidiary and advice given by it on financial products including insurance. The lawsuit was filed by Piper Alderman against …
Commonwealth Bank of Australia (CBA) said on Friday a class action lawsuit was filed over advice given on life insurance policies issued and recommended by three former subsidiaries. The lawsuit was filed by Shine Lawyers against financial advisors Commonwealth Financial …
Commonwealth Bank of Australia became the latest company to join a global push to reduce emissions and said it would phase out its exposure to thermal coal or power plants by 2030. The company announced a new environmental and social …
Billionaire Richard Li’s FWD Group is nearing an agreement to buy control of Commonwealth Bank of Australia’s Indonesian life insurance arm, people familiar with the matter said, in a deal that would boost the tycoon’s presence in one of the …
Commonwealth Bank of Australia said it would hive off its wealth management and mortgage broking businesses, and explore whether to divest its general insurance arm, as it narrows its focus down to traditional lending. Australia’s biggest bank also unveiled a …
AIA Group Ltd. agreed to buy Commonwealth Bank of Australia’s life insurance business for A$3.8 billion (more than $3 billion), in its most ambitious foray beyond the Hong Kong-based company’s core markets in Asia. AIA will team up with Commonwealth …
Hong Kong-based insurance giant AIA Group Ltd. has shown interest in buying Commonwealth Bank of Australia’s insurance business, which is likely to be valued at about $4 billion, people with knowledge of the matter said. Separately, Zurich Insurance Group AG …
A law firm threatened on Wednesday to file a class action suit against Commonwealth Bank of Australia for allegedly failing to disclose that it was facing money-laundering charges, in the latest headache for Australia’s biggest listed company. Without revealing its …
