Commonwealth Bank won’t defend ASIC case over $2.9M in overcharged interest

ASIC 2021-02-12 12:14 pm By Spencer Fowler Steen | Melbourne

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Proceedings launched by ASIC in December accusing the Commonwealth Bank of Australia of saddling consumers with $2.9 million in inflated interest rates on their business overdraft accounts on more than 12,000 occasions will move swiftly to a penalties hearing.

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