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CBA commits to pay back a third of the “excessive” fees that ASIC says it charged low income customers

PayDay News
7 Jan, 2026
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Staff Reporter
PayDay News
7 Jan, 2026
Add us as a preferred source on Google
Commonwealth Bank (CBA) is staring down the corporate regulator, committing to pay back only a third of what ASIC says it charged low income customers and Centrelink recipients in “excessive” account fees.
CBA commits to pay back a third of the “excessive” fees that ASIC says it charged low income customers
CBA CEO, Matt Comyn (right), has agreed to repay $93 million to disadvantaged customers. ASIC commissioner Alan Kirkland (left) says it should not have taken multiple ASIC reviews and widespread criticism to force banks to do the right thing.

Commonwealth Bank (CBA) is staring down the corporate regulator, committing to pay back only a third of what ASIC says it charged low income customers and Centrelink recipients in “excessive” account fees.

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