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Commonwealth Bank of Australia Add to portfolio

XJO:CBA, Nov 21, 04:23 UTC

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As Expeditors International Of Washington INC (EXPD) Share Price Declined, Commonwealth Bank Of Australia Has Boosted by $8.88 Million Its Position

CBA EXPD +1 more CBA EXPD D

Cullen Frost Bankers Incorporated invested 0% in Expeditors International of Washington, Inc. (NASDAQ:EXPD). Northern Trust accumulated 2.28 million shares. The institutional investor held 4.30M shares of the transportation company at the end of 2019Q2, valued at $326.05 million, up from 4.18 million at the end of the previous reported quarter. Commonwealth Bank Of Australia, which manages about $10.32 billion US Long portfolio, decreased its stake in Royal Bank Of Canada (NYSE:RY) by 71,306 shares to 198,443 shares, valued at $15.77M in 2019Q2, according to the filing. More interesting news about Expeditors International of Washington, Inc. (NASDAQ:EXPD) were released by: Nasdaq.com and their article: “S&P 500 Movers: BDX, EXPD – Nasdaq” published on November 05, 2019 as well as Nasdaq.com‘s news article titled: “Will Low International Package Volumes Mar UPS’ Q3 Earnings?

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Australia's Westpac slapped with 23 million money laundering breaches

CBA WBC

SYDNEY (Reuters) - Regulators accused Australia's Westpac Banking Corp <WBC.AX> of 23 million breaches of anti-money laundering laws, saying the banking giant ignored red flags and for years enabled payments from convicted child sex offenders and "high risk" countries. The oversight failure at Australia's second-largest bank led to deep systemic non-compliance with anti-money laundering laws, financial crime watchdog AUSTRAC said in a civil court filing on Wednesday. The lawsuit dwarfs a case AUSTRAC brought against larger Commonwealth Bank of Australia <CBA.AX> which agreed last year https://www.reuters.com/article/australia-cba-moneylaundering/australias-commonwealth-bank-to-settle-civil-proceedings-by-austrac-idUSL3N1T50QC to pay a record A$700 million penalty after admitting to allowing 53,750 payments that violated similar protocols. Westpac said it had self-reported the breaches to AUSTRAC and had since shut down the service at the centre of the complaint which let customers and affiliate overseas banks process payments from Australia.

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Australia's Westpac accused of 23 million money laundering breaches

CBA WBC

(Reuters) - Australia's Westpac Banking Corp (WBC.AX) was accused on Wednesday of 23 million breaches of anti-money laundering rules, with a regulator saying the financial giant enabled payments from "high risk" countries and convicted child sex offenders. The oversight failure at Australia's second-largest bank led to "serious and systemic non-compliance" with anti-money laundering laws, financial crime watchdog AUSTRAC said in a court filing. The lawsuit dwarfs a case AUSTRAC brought against larger Commonwealth Bank of Australia (CBA.AX) which agreed last year here to pay a record A$700 million penalty after admitting to allowing 53,750 payments that violated similar protocols. The filing said Westpac maintained relationships with offshore banks without assessing their business relationships, products, customers or payments, even when those banks disclosed relationships with "high risk or sanctioned countries including Iraq, Lebanon, Ukraine, Zimbabwe, and Democratic Republic of Congo".

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Tuesday, November 19


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Australia's Westpac accused of 23 million money laundering breaches

CBA WBC

(Reuters) - Australia's Westpac Banking Corp <WBC.AX> was accused on Wednesday of 23 million breaches of anti-money laundering rules, with a regulator saying the financial giant enabled payments from "high risk" countries and convicted child sex offenders. The oversight failure at Australia's second-largest bank led to "serious and systemic non-compliance" with anti-money laundering laws, financial crime watchdog AUSTRAC said in a court filing. The lawsuit dwarfs a case AUSTRAC brought against larger Commonwealth Bank of Australia <CBA.AX> which agreed last year https://www.reuters.com/article/australia-cba-moneylaundering/australias-commonwealth-bank-to-settle-civil-proceedings-by-austrac-idUSL3N1T50QC to pay a record A$700 million penalty after admitting to allowing 53,750 payments that violated similar protocols. The filing said Westpac maintained relationships with offshore banks without assessing their business relationships, products, customers or payments, even when those banks disclosed relationships with "high risk or sanctioned countries including Iraq, Lebanon, Ukraine, Zimbabwe, and Democratic Republic of Congo".

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CommInsure to refund $12m over phone sales

CBA

CommInsure has pleaded guilty to 87 counts of unlawfully selling life insurance policies in unsolicited phonecalls, marking the first criminal conviction against a major bank since the financial services royal commission. The Commonwealth Bank-owned insurer, which will refund more than $12 million to about 30,000 customers, pleaded guilty on Tuesday to hawking charges brought by the financial regulator and related to sales made between 2010 and 2014. The Australian Securities and Investments Commission's case focused on calls by telemarketing firm Aegon Insights Australia, which had been hired by CommInsure and was using customer contact details supplied by CBA. CommInsure, which stopped telemarketing sales calls in December 2014, has already refunded most customers and expects to pay back the rest by the end of this year. ASIC initially flagged a number of issues with CommInsure over the sale of its accidental death insurance, including the fact that almost half the policies sold in 2012/13 were cancelled within six months and that the speed of sales indicated customers could not have made an informed purchase.

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Australia regulator says CBA life insurance arm pleads guilty to offences

CBA

SECTIONS. Home. World. Markets. Business. Politics. Technology. U.S. Australia regulator says CBA life insurance arm pleads guilty to offences. (Reuters) - The life insurance arm of Australia's largest lender, Commonwealth Bank of Australia (CBA.AX), pleaded guilty to 87 counts of hawking offences, the corporate regulator said on Tuesday. In a statement, the Australian Securities and Investments Commission said CommInsure, through its agent, unlawfully sold life insurance policies known as 'Simple Life' over the telephone between October and December 2014. Download the app to read more Reuters News.

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Monday, November 18


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Australia CBA insurance arm pleads guilty to cold-calling offences

CBA

Australia CBA insurance arm pleads guilty to cold-calling offences. (Reuters) - The life insurance arm of Commonwealth Bank of Australia <CBA.AX> pleaded guilty to 87 counts of breaching a law banning sales staff from making unsolicited calls to sell financial products, the country's corporate regulator said on Tuesday. The Australian Securities and Investments Commission (ASIC) had charged the CommInsure unit of CBA, the nation's biggest lender, of breaking an "anti-hawking" law in October, accusing it of selling life insurance policies known as 'Simple Life' over unsolicited phone calls between October and December 2014. ASIC said that CommInsure sold life insurance policies through a telemarketing firm, Aegon Insights Australia, by providing customer contact details to Aegon from CBA's existing customer database. CBA acknowledged in a statement that CommInsure had pleaded guilty to the 87 alleged breaches and added that penalties would be determined on Nov. 28.

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Saturday, November 16


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Expert says Australia house prices are one of the biggest risks in the global economy

CBA

Deutsche Bank Securities Chief Economist Torsten Slok appeared on CNBC’s Closing Bell to talk about his 20 biggest risks to markets in 2020. Markets would probably quite volatile if Ms Warren or Mr Sanders became the US President next year. But one of the other risks to the global markets according to Mr Slok is a house price crash in Australia, Canada and Sweden where houses are expensive relative to incomes with high debt levels. Plenty of politicians, real estate agents and bankers at Commonwealth Bank of Australia (ASX: CBA) & Westpac Banking Corp (ASX: WBC) would argue that we’ve already seen the worst of it – just look at how fast house prices are recovering in Sydney and Melbourne. It’s true, but it doesn’t change that Australia’s economy is still sluggish with emergency level interest rates and very high household debt levels.

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Thursday, November 14


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Here’s why BetaShares Australia 200 ETF is my favourite ASX ETF

CBA

Both ETFs provide exposure to the biggest ASX shares like Commonwealth Bank of Australia (ASX: CBA), BHP Group Ltd (ASX: BHP) and CSL Limited (ASX: CSL). But because you’re missing out of the bottom 100 of the ASX 300, you get more exposure to the blue chips. If you’re investing in one of these ETFs you are essentially deciding to own Australia’s biggest blue chips, so you may as well get more exposure to them rather than less. BetaShares Australia 200 ETF’s annual management fee is 0.07% compared to Vanguard Australia’s management fee of 0.10% per annum. Realistically, 0.03% per annum is not much of a difference at all, but if the returns are identical then you may as well pick the one that would give slightly better net returns. Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield... Plus 3 more cheap bets that could position you to profit over the next 12 months!

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Tuesday, November 12


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Income tax refunds used to pay off mortgages, says Commonwealth Bank

CBA

The Morrison government's tax refunds have been going toward paying off mortgages and credit card debt, Commonwealth Bank suggests. Their September update showed a decline in number of lenders who are behind on their mortgages, and CBA have pinned that on the recent tax boost. "Consumer arrears improved in the quarter due to seasonality and the benefit of higher tax refunds," the trading update advised. "Personal loan arrears rates remained elevated due to lower portfolio growth and continued pockets of stress in western Sydney and Melbourne," CBA noted.

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