ASIC v CBA (CommBank credit card pricing)
civil penalty15 June 2020Penalty $7.60M
Respondent
Commonwealth Bank of Australia
Facts
CBA failed to properly apply credit card promotional interest rates after promotional period for ~3,000 customers.
Outcome
$7.6M penalty + remediation to affected customers.
Read the source
https://asic.gov.au/about-asic/news-centre/find-a-media-release/Rules Mate links to the regulator's own publication. We do not republish full decision text. Always verify the latest status against the source before acting.