CBA sued for overcharging tens of thousands of businesses

AI Summary

Australia’s corporate regulator has sued the country’s largest bank, alleging it misled 42,000 business customers and overcharged them roughly A$8.5 million in fees. The proceedings focus on Commonwealth Bank of Australia’s business banking practices.

The corporate regulator has started legal proceedings against the nation’s biggest bank, alleging that it misled 42,000 business customers and overcharged them about $8.5 million in fees.