October 8, 2018 / 9:57 PM / a month ago

Commonwealth Bank of Australia announces initiatives to reform wealth business

Oct 9 (Reuters) - Commonwealth Bank of Australia on Tuesday launched a number of initiatives to improve its wealth management business, which has come under fire in a high profile-inquiry on the financial sector.

The country’s No. 1 lender will remove certain fees on legacy wealth products and will launch a program to refund customers for any unauthorized advice fees charged to deceased estates, among other initiatives. (Reporting by Aditya Soni in Bengaluru; Editing by Dan Grebler)

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