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SMH | 8/28/2017
The banking regulator will launch an unprecedented public inquiry into the Commonwealth Bank, after a run of scandals that have undermined public trust in the country's biggest bank.
Australian Prudential Regulation Authority chairman Wayne Byres said the inquiry followed damage to the bank's reputation and public standing by a range of issues, most recently allegations it breache
SMH | 8/22/2017
The Commonwealth Bank faces a potential investor class action over its disclosure of more than 53,000 alleged breaches of anti-money laundering laws, following a sharp fall in its share price when the scandal emerged earlier this month.
Plaintiff law firm Maurice Blackburn, backed by listed litigation funder IMF Bentham, said on Wednesday it would investigate a potential class action on behalf of CBA shareholders, citing the hit to the bank's share price.
Charlotte Lemmon | 8/15/2017
Rising house prices are fuelling millennials’ concerns over never breaking into the housing market.
However, mortgage and rental affordability has increased in South Australia from 2015-2016, the latest Real Estate Institute of Australia (REIA) and Adelaide Bank Housing Affordability Report shows.
The report’s latest affordability figure for the South Australian housing market is 25.5 per cent of a $1,535 median weekly family income, better than the 32.4 per cent recorded in December 2015.
SMH | 8/13/2017
Commonwealth Bank chief executive Ian Narev will leave the bank by the end of the 2018 financial year.
Mr Narev has led Australia's largest bank to a series of record annual profits but has been under pressure for the past two weeks after AUSTRAC alleged CBA of breaching money laundering and terrorism financing laws.
SMH | 8/8/2017
The Turnbull government will make a doomed second attempt to enact a plebiscite on same-sex marriage after Liberal MPs rejected an internal push to ditch the policy and allow a free vote.
If that fails to pass the Senate, as expected, the government is satisfied it can legally conduct a voluntary postal ballot without legislation – a threat it is now making to the Senate crossbench.