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cba to repay 65,000 customers about $10m for unsuitable insurance

cba to repay 65,000 customers about $10m for unsuitable insurance Article News With Simple Text and Web Resource Link. For View Full Content Click on Source Link on Then Bottom Of News.



cba to repay 65,000 customers about $10m for unsuitable insurance

commonwealth bank will refund more than 65,000 customers a total of about $10 million after selling them unsuitable insurance when they applied for credit cards.the australian securities and investments commission (asic) on monday said cba sold creditcard plus insurance for credit card repayments to 65,000 customers who were unlikely to meet the employment criteria and would be unable to claim the insurance. cba will repay about $586,000 in premiums to 10,000 customers it overinsured when they took out a home loan with the bank. photo: louie douviscba would also repay about $586,000 in premiums to another 10,000 customers it overinsured when they took out a home loan with the bank.w...