ASIC is taking Westpac to the Federal Court, alleging it sold junk credit insurance to 384 customers whose accounts were unlawfully debited to pay for the premiums.
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CBA must pay out $7 million after it charged customers a 34% interest rate rather than the 16% shown on their statements.
ASIC drops all 38 charges it was pursuing against missing woman and self-proclaimed financial adviser Melissa Caddick.
One in five Aussies has cut back on essentials to pay their buy now, pay later debts, but that hasn't stopped CBA from launching its own rival to Afterpay.
ASIC is taking CommSec to court for overcharging customers on 120,933 occasions totalling $4,352,194 between August 2010 and February 2020.
What happens when a bank makes a billion-dollar mistake? Or a commodities broker buys seven million barrels of crude oil after a big night on the booze?
CBA charged customers a higher rate of interest than what they had been advised, the Federal Court has found. And it happened 12,000 times.
Dodgy bond investment schemes are scamming unsuspecting Aussies out of millions of dollars. Here's how to spot the scam.
ASIC has slammed school banking programs for being marketing campaigns with no educational benefit. And they could be costing your kids hundreds in interest.
Have you ever called your super fund to find out if you have enough insurance, only to be left feeling confused, overwhelmed or uncertain? You're not alone.
