Companies

Jul 9, 2014

Fallout from CBA scandal only just beginning

Banks should be quaking in their boots, if the response to the CBA scandal is anything to go by.

Paddy Manning

Crikey business editor

An apology is one thing, compensation is another. But as the Commonwealth Bank drifts toward another Senate inquiry into allegations of a cover-up in its financial advice scandal, the question is whether there has been enough change at the CBA to prevent history repeating itself.

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4 comments

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4 thoughts on “Fallout from CBA scandal only just beginning

  1. Yclept

    The CBA Board works on plausible deniability just as all people in power do, and it has been this way for long time. Especially since David Murray was brought to the top to introduce a sales culture which has caused so many of these problems.

  2. CML

    While almost everyone in the media seems to be focusing on the problems at the CBA, there are a few who keep saying that the problems in financial planning are much more wide spread.
    If this is indeed the case, then why is the net not being cast much more widely? The public deserve to know what is going on here.
    We definitely need a Senate inquiry, at the very least, if not a Royal Commission.

  3. bluepoppy

    We know the Coalition cares about corruption as evidenced by the The Union Royal Commission so we know we can count on them for a Royal Commission into banks. Oh wait…

  4. The Pav

    I am looking forward to ASIC/ASX taking the CBA Board to task for not issuing an advice about a substantial matter affecting earning

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