Commonwealth Bank Hammered for Billing Dead Customers
APRIL 23, 2018
As Wells Fargo waited to find out how much it would have to pay for past transgressions, an Australian bank hit the headlines for admitting to billing clients for fees. The catch: those clients had been dead for years, and at least some people at the bank knew it. Commonwealth Bank of Australia admitted as much during a government investigation, saying the practice of billing dead customers for “financial advice” went back years, in one case at least a decade. .