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Commonwealth Bank Victims

Commonwealth Bank says no to a full rate cut

Clancy Yeates - May 4, 2012 - The Age

THE Commonwealth Bank has become the latest lender to deny its customers this week's interest rate cut in full, sparking calls for more government moves to boost banking competition.

The country's biggest bank, it yesterday cut mortgage rates by 0.40 percentage points, to 7.01 per cent, while the biggest credit union, CUA, cut by 0.25 points, to 6.47 per cent.

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The dark side of the Commonwealth Bank Part 1 – Evan Jones

Independent Australia          04 Apr 2012

The Commonwealth Bank has been in the news recently over allegations it wrongly defaulted and foreclosed over 1,000 for BankWest customers. This should come as no surprise, according to Associate Professor Evan Jones, who writes “…the CBA has been engaged in fraudulent and unconscionable practices perennially over … [the last] 30 years, which includes (shockingly) a period in which it was still in public ownership.” What follows is the first in Professor Jones’ eye-opening – and eye-watering – three part exposé on the CommBank and the Australian banking system.

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