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The Latest Breaking News from The Commonwealth Bank

Hope for end to wage theft as laws come into force

Criminal penalties for employers who deliberately underpay workers have come into effect, with hopes they will deter bosses from engaging in the practice.

AAP

'Kick in the guts': bank slammed for $3 withdrawal fee

One of the big four banks has come under fire for changes to one of its everyday accounts which means some customers are slugged $3 when they withdraw cash.

AAP

Inside the top-secret missile factory deal Newcastle Airport 'can't afford'

Fears 'done deal' could be 'dud deal' for struggling airport.

Newcastle Herald

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Impact of US rate cut in Australia remains to be seen

Senior minister Bill Shorten says it's unclear how much of an impact the US Federal Reserve's interest rates cut will have on Australia's economy.

AAP

Commonwealth Bank to stop financing fossil fuel companies that don’t comply with Paris climate goals

Shareholders and customers of ANZ, Westpac and NAB are bound to demand their banks do the same, expert says

The Guardian - AU

There’s a huge amount riding on the latest inflation figures. Here’s why

The big four banks predict interest rates to be cut, but the RBA may have other ideas

The Guardian - AU

Former governors and treasurers advise against removing government’s power to overrule RBA

Critics of treasurer Jim Chalmers’ proposed reforms say the Reserve Bank is independent enough

The Guardian - AU

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Why AI will diagnose breast cancer in Australia by 2028

Artificial intelligence will be used in many fields in the coming years, from breast cancer screening to the fight against scammers.

AAP

Menacing messages to be targeted by AI banking tool

Artificial intelligence will be used to identify and flag threatening messages sent to victims' bank accounts, in a tool to be shared with banks worldwide.

AAP

KPMG lodges complaint after AI-generated material was used to implicate them in non-existent scandals

Senate inquiry into Australian consultancy industry concedes its integrity has been undermined by reliance on case studies generated by Google Bard AI tool

The Guardian - AU

Australian academics apologise for false AI-generated allegations against big four consultancy firms

Case studies created by Google Bard AI as part of submission to parliamentary inquiry proven to be factually incorrect

The Guardian - AU

A crypto firm sent a disability worker $10m by mistake. Months later she was arrested at an Australian airport

Crypto.com made global headlines for a multimillion-dollar error that went unspotted for months. A court case reveals how it all went wrong

The Guardian - AU

Comm Bank defends deposit fee hike for businesses

Small businesses will soon be hit with additional charges if they choose to make cash deposits at the Commonwealth Bank.

AAP

Bank closures 'sad and frustrating' for rural towns

Junee fought back when the Commonwealth Bank prepared to close the only bank in the NSW Riverina town, an inquiry has been told.

AAP

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AAP

Deal to drive discount EV loans for Aussie drivers

Australian Tesla buyers will be offered discounted green loans on the vehicle maker's website as part of a deal with the Commonwealth Bank.

AAP

Banks 'cold and unhelpful' as they desert rural areas

Face-to-face banking is part of the social fabric in Tasmania's regions, which have ageing populations and low levels of literacy, an inquiry has been told.

The Conversation

Working from home has worked for people with disability. The back-to-the-office push could wind back gains

A push is underway to get employees back into the office. The Commonwealth Bank kick-started this conversation recently, with reports the organisation is requiring staff to work at least half the week on-site.

The New Daily

Commonwealth Bank fined $3.5m for breaching spam laws

The communications watchdog has imposed a record fine on the Commonwealth Bank for sending out millions of marketing emails that breached spam laws.

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The Guardian - AU

Commonwealth Bank fined a record $3.55m for breaching spam laws with millions of emails

Australian Communications and Media Authority says bank sent 65m customer emails that breached Spam Act

ABC News

Money mules are involved in the majority of scam reports, ACCC says

Over a four-hour phone call, scammers gained access to Jenny's computer and transferred $300,000 out of her account. By the time she alerted the bank, it was too late.

The Conversation

Jim Chalmers wants a truly independent RBA. He should be careful what he wishes for

Might Jim Chalmers have forgotten Labor Party history?

ABC News

These borrowers are facing a big jump in their mortgage repayments — but they feel they dodged a bullet

As hundreds of thousands of Australian households brace for a steep hike in their mortgage repayments, there are calls for lenders to better explain to prospective borrowers the risks of interest rate rises or other changes to their circumstances.

The New Daily

‘Now in reverse’: Big four banks slash refinancing discounts as profits come under pressure

Australia’s big four banks are reining in their biggest mortgage discounts as tight competition and record levels of refinancing eat into their profits.

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