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EXPLAINED: Commonwealth bank - The Real Truth

Past disruptions show Australian workers can weather AI

A federal government minister says Australia could see the creation of lots of jobs involving empathy and human connectedness as AI adoption increases.

AAP

Why Commonwealth Bank’s $1 billion suspected loan fraud should change how we bank and do business

The Commonwealth Bank reportedly suspects around A$1 billion in home loans were obtained fraudulently, including through AI-generated documents. The Australian Financial Review says the bank has reported itself to police and the corporate watchdog to investigate.

The Conversation

Bank business clients proving resilient, despite rates

One of the bright spots in Commonwealth Bank's interim results this week was its interactions with businesses, particularly in regional Australia.

AAP

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Commonwealth Bank posts record half-year cash profit as investors pile into housing market

CBA shares surge by 7% after bumper $5.45bn result while data shows owner-occupiers’ share of lending has decreased in tight property market

The Guardian - AU

Household debt at a decade-low: Commonwealth Bank boss

Commonwealth Bank boss Matt Comyn says 87 per cent of its home loan customers are ahead on their repayments.

AAP

'Stonking result': big bank basks in best day for years

Shares in Australia's biggest bank have soared to a three-month high after it beat earnings expectations with "a really clean set of numbers".

AAP

Australian banks passed interest rate hikes on to mortgage holders – so why haven’t they done so for savings accounts?

There’s an obvious reason for the delay. But the banks still need to compete on savings rates to finance their operations

The Guardian - AU

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AI war against 'one cent' family violence perpetrators

The use of artificial intelligence can be challenging for many Australians, but one major business has found ways to bring good out of the groundbreaking tech.

AAP

Australian shares reverse early dip as miners soar

The local bourse has gained for a second straight session, supported by resurgent gold stocks and a positive outlook for the Aussie dollar.

AAP

'My error': Raygun's brother admits role in crypto scam

The brother of Olympic breakdancer Raygun has admitted his role in an alleged celebrity-backed cryptocurrency scam that cost investors more than $180,000.

AAP

Australian shares dip for third day as banks, tech drag

The local bourse has extended its decline in a broad-based sell-off led by IT stocks and banks, while gold hit new highs on safe haven demand.

AAP

Hot or not? Strong spending complicates rate picture

Upcoming data will give the Reserve Bank a better sense of whether higher interest rates are required to take the heat out of Australia's economy.

AAP

CBA to repay $68m in fees to low-income customers

Following a report by ASIC, the Commonwealth Bank says it's repaying $68 million to low-income customers who incurred unusually high banking fees.

AAP

Shares limp to positive finish after rally loses steam

The local bourse has notched its first four-day winning streak since May, but has only limped across the line in an unconvincing trading session.

AAP

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The Conversation

Your bank is already using AI. But what’s coming next could be radically new

In June 1967, the world’s first “automated teller machine” or “ATM” was unveiled at a branch of Barclays Bank in north London in a grand ceremony.

The Guardian - AU

CBA boss says repaying ‘excessive fees’ to low-income customers could be seen as taking shareholder money

Commonwealth Bank Australia– which reported a record cash profit of $10.3bn in most recent financial year – charged $270m in ‘excessive fees’ over five years

AAP

Commonwealth Bank boss reveals preferred migration rate

The boss of Australia's biggest bank has nominated a preferred migration rate while appearing before a parliamentary committee. saying a target is appropriate.

AAP

Australian economy 'island of security' in risky seas

A shock fall in unemployment has wrong-footed analysts and dashed hopes of further interest rate cuts as the treasurer talks up Australia's economic strength.

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AAP

Bank giant, energy providers rebuked in Shonky awards

A bank that won't refund customers fees it incorrectly charged has topped the annual list of dodgy business behaviour from consumer advocates Choice.

The Guardian - AU

Morning Mail: Reddit to be banned for under-16s, Commonwealth Bank gets a Shonky, Dick Cheney dies

Minister extends ban to discussion forum and video streamer Kick; former US vice-president and Iraq hawk was a key Republican figure

The Guardian - AU

Commonwealth Bank, Temu and HCF among those named at this year’s Shonky awards

Choice’s annual list also includes the entire energy retail sector for allegedly hoodwinking customers with confusing prices

AAP

Services restored for thousands hit by CommBank outage

Australia's biggest bank has restored services after an outage that left thousands of customers unable to use online banking and some ATMs.

The Guardian - AU

Overseas holidays and pints at the pub: five things Australians are splurging on as household budgets bounce back

People aged 20 to 34 spent more on non-essential goods in the three months to June than they had a year before, when they were cutting back

The Guardian - AU

Afternoon Update: national guard deployed in Washington DC; Commonwealth Bank’s record profit; and a ‘deceptively cute’ ancient whale

Troops start appearing in US capital after Donald Trump took control of city’s police force

The Guardian - AU

Commonwealth Bank urged to repay fees of 2 million low-income customers after posting record profit

Australia’s biggest bank delivers bumper payout to shareholders as CBA vows to end lending to coal companies with no net zero plans

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