what steps were taken after this scandal?
Two parliamentary inquiries were conducted. The Financial Services Royal Commission was called and they earthed further malpractices.
Commonwealth Bank
After the serious allegations were aired in an episode of "Four Corners" two parliamentary inquiries were conducted. One into the life insurance sector, and another into protection of whistleblowers. The inquiries found that no staff involved in the wrongdoings were fired. The only person who suffered a consequence was the whistleblower who had tried to do the right thing. There were also calls for a Royal Commission into the insurance industry. The Financial Services Royal Commission was eventually called and found widespread issues. The Commonwealth Bank was called the gold medallist for ripping off customers by the counsel assisting the royal commissioner.
who is harry cobby? A military aviator and an Air Commodore. where is he from? Australia. how did he start his early career? He was a bank clerk in the beginning. Later he joined the AFC. which bank did he work for? The Commonwealth Bank. when was this bank founded? In 1911. was there a scandal regarding this? Yes, it was reported alleged systemic issues about the insurance division of CBA.
wiki:5061935
Commonwealth Bank [SEP] Insurance division scandal
After the serious allegations were aired in an episode of "Four Corners" two parliamentary inquiries were conducted. One into the life insurance sector, and another into protection of whistleblowers. The inquiries found that no staff involved in the wrongdoings were fired. The only person who suffered a consequence was the whistleblower who had tried to do the right thing. There were also calls for a Royal Commission into the insurance industry. The Financial Services Royal Commission was eventually called and found widespread issues. The Commonwealth Bank was called the gold medallist for ripping off customers by the counsel assisting the royal commissioner.