By David Jacobson The Commonwealth Bank (CBA) has announced that it has decided to end sales of its current Credit Card Plus and Personal Loan Protection consumer credit insurance (CCI) products.
CBA credit insurance in connection with home loans, personal loans and credit cards will be examined in the first round of public hearings by the Financial Services Royal Commission.
CBA is working with ASIC to provide refunds to customers who may have been ineligible to claim some benefits due to their employment status at the time of taking out the policy.
It will contact those customers who could be affected and has set aside approximately …read more
Source:: Bright Law