How start-ups with $3m in capital could get their banking P-plates

Start-up businesses with $3 million in capital could qualify for a "restricted" banking licence under a proposal from the prudential regulator to put more competitive heat on the big four.

CBA scandals done? Investors are not convinced

The departure of Commonwealth Bank chief executive Ian Narev has been backed by corporate governance experts, but failed to stave off the political heat on the bank over a money laundering compliance scandal.

Exiting Narev's pay shrinks by $6.8m in wake of scandal

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Commonwealth Bank chief executive Ian Narev will leave the bank by the end of this financial year.

'It's two or three years of cock-ups' - is time up for the banks?

Will CBA's response to allegations of mass breaches of anti-money laundering rules be enough to stem the growing pressure on the bank and its bosses?

'Service has taken back seat': RBA joins in bank bashing

Reserve Bank governor Philip Lowe has slammed the banking sector for its short-term profit mindset and cultural collapse.

'Very troubling': Morrison slams CBA's 'epic fail'

Treasurer Scott Morrison says CBA has had an "epic fail" after allegations it breached anti-money laundering laws, and cited "very troubling" issues of culture and governance.

'Not every problem has been fixed' - CBA's Ian Narev

The Commonwealth Bank still has plenty of work to do as it seeks to fix internal processes in response to allegations of mass breaches of anti-money laundering laws, chief executive Ian Narev says.

CBA says it spent $125m to prevent financial crimes

Commonwealth Bank has spent up big to strengthen internal systems to detect financial crimes in the past two years, and has now set up a subcommittee to deal with Austrac's claims, its chairman Catherine Livingstone said, stressing there was "no reason" to believe the bank engaged in unethical behaviour.

CommBank flags life insurance sale as it delivers $9.9b profit

Commonwealth Bank may sell its life insurance business, the bank has revealed as it reported a full-year profit of $9.88 billion and raised dividends for shareholders.