CBA faces court, NAB fined, ANZ and Westpac bosses grilled | The Business

Summary

It's been a big few days of scrutiny for the major banks, with the corporate regulator ASIC taking action against two lenders - the Commonwealth Bank and Macquarie - in two days. And, the CEOs of ANZ and Westpac, Nuno Matos and Anthony Miller were forced to defend rising profits amid a cost-of-living crisis at a parliamentary hearing. ASIC says the action its taken against CBA and Macquarie is about sending a strong signal to the sector to get things right by customers. The corporate regulator alleges about 42,000 Commonwealth Bank customers were overcharged $8.5 million in misleading fees…

Description from ABC News (Australia).