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resipsaloquitur@lemmy.world to Not The Onion@lemmy.worldEnglish · 2 days ago

Commonwealth Bank Australia says repaying ‘excessive fees’ to low-income customers could be seen as taking shareholder money

www.theguardian.com

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Commonwealth Bank Australia says repaying ‘excessive fees’ to low-income customers could be seen as taking shareholder money

www.theguardian.com

resipsaloquitur@lemmy.world to Not The Onion@lemmy.worldEnglish · 2 days ago
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CBA boss says repaying ‘excessive fees’ to low-income customers could be seen as taking shareholder money
www.theguardian.com
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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

cross-posted from: https://lemmy.world/post/38973499

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  • Hanrahan@slrpnk.net
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    4 hours ago

    https://www.abc.net.au/news/2025-11-05/choice-shonky-award-commbank-temu-hcf/105964682

    The Commonwealth Bank has been labelled the “shonkiest” company of all time by consumer group Choice after it won its infamous annual award again.

  • Bot R1
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    7 hours ago

    Good time to buy in Commonwealth Bank stock?

  • WatDabney@lemmy.dbzer0.com
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    2 days ago

    And they mean exactly what they say.

    The class war is already underway - the financial elite are actively fighting it, and winning by forfeit because the rest of us are mostly split into those who don’t see the attacks and those who see them but misassign the blame for them.

    • resipsaloquitur@lemmy.worldOP
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      2 days ago

      But think of the widow and orphan shareholders. 😢

  • foggy@lemmy.world
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    2 days ago

    Taking shareholder money back. Yes. That seems to be the point.

    • SirEDCaLot@lemmy.today
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      Exactly. If this is stealing from shareholders to pay customers, it’s because the original fees were stealing from customers to pay shareholders.

  • Yolotan@lemmy.dbzer0.com
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    deleted by creator

  • P00ptart@lemmy.world
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    1 day ago

    Burn the shareholders.

  • gravitas_deficiency@sh.itjust.works
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    2 days ago

    Then the shareholders shouldn’t hold shares in that bank. Simple as.

    • Corkyskog@sh.itjust.works
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      2 days ago

      To me it’s a legal argument that I can sue each share holder for their portion.

  • recentSlinky@lemmy.ca
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    But the other way around is totally fine? It’s okay to steal, but too much to return PART of what you stole?

  • NaibofTabr@infosec.pub
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    2 days ago

    Yes, that’s correct, crime should not pay.

  • crozilla@lemmy.world
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    2 days ago

    Wow. Just wow.

  • chosensilence@pawb.social
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    2 days ago

    good, do it even more.

  • zout@fedia.io
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    2 days ago

    They’re not wrong, it could be, but the question is should it be?

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