Insurance, funds and super (120 items)

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Spotlight on 'junk' insurance with CBA to refund A$16m

Consumer advocates applauded yesterday's announcement that the Commonwealth Bank of Australia will phase out two of its three main consumer credit insurance products. The decision is expected to prompt the country's three other major banks to follow suit, amid growing consumer pressure. read more

No cover for credit insurance fail by CBA

The Royal Commission into banking misconduct will tolerate no censorship by Commonwealth Bank of documents relating to its CreditCard Plus insurance product, the commission ruled on Friday. It means dialogue between the bank and ASIC over a recent A$10 million refund will be aired in hearings next week. read more

Macquarie Private Wealth faces "pump and dump" accusations

Macquarie Group has been dealing with a building situation over the last two days, fending off accusations of share price manipulation as Melbourne law firm Macpherson Kelley uses media outlets to further its leverage against Macquarie Private Wealth in a complex class action. read more

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