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The Federal Court has imposed a $7 million penalty on Commonwealth Bank for charging higher interest rates on business overdraft accounts than what it advised its customers over a four-year period. Following an investigation by ASIC, CBA admitted to ... More

ASIC has commenced civil proceedings against CommSec and AUSIEX in the Federal Court. CommSec overcharged brokerage fees to customers on 120,933 occasions totalling $4,352,194 between August 2010 and February 2020, ASIC alleges and CommSec has admitted. ... More

We hear it bandied around all the time - if you have more than one super account, you should consolidate them into one. While it can save you money on fees, it can also make you vulnerable in ways you didn't expect. Check out these four myths on ... More

Not all savings accounts are created equal. Some have higher interest rates, some charge extra fees and others have "bells and whistles" to help you save more. So how do you know your money is in the right savings account? How can you make the most ... More

MTAA Super and Tasplan will take on a new name on April 1, as their $23 billion merger completes. The combined fund will be called Spirit Super and have 326,000 members and lower administration fees. MTAA Super chief executive Leanne Turner, who will ... More

All of us overspend from time to time. After all, nobody's perfect. But ongoing spending habits or ill-suited financial products can be a major drain on your bank account in the long run. The new year is a great time to review your financial situation ... More

For many, Christmas will be the perfect antidote to a monumentally challenging and unprecedented year: a time that we are hopefully able to spend time with family, and for giving and receiving, for gratitude and reflection. For others, myself included ... More

If you are struggling financially to pay your regular strata levies because of COVID, what are your options? Is there any chance of relief from the levies? Your fate rests with your building's owners' corporation or body corporate. You must ... More

Superannuation accounts should not make for a collector's pastime. Multiple accounts mean multiple sets of fees, multiple sets of paperwork, multiple performance metrics to keep track of, and overlapping insurance cover. Only under some circumstances ... More

The policy, research and advocacy body for Australian superannuation, ASFA, calculates two important retirement income statistics each year: the amount needed for a modest retirement and the amount for a comfortable retirement. ASFA's definition ... More