X
  • About
  • Advertise
  • Contact
  • Events
Subscribe to our Newsletter
  • News
    • Markets
    • Regulation
    • Super
    • M&A
    • Tech
    • Appointments
  • Podcast
  • Webcasts
  • Video
  • Analysis
  • Promoted Content
No Results
View All Results
  • News
    • Markets
    • Regulation
    • Super
    • M&A
    • Tech
    • Appointments
  • Podcast
  • Webcasts
  • Video
  • Analysis
  • Promoted Content
No Results
View All Results
No Results
View All Results
Home News Regulation

CBA says union claims are ‘misinformation’

The Finance Sector Union (FSU) has accused CBA of offering its workers an “offensive con-job of an enterprise agreement” – but the bank says those claims are “reprehensible”.

by Lachlan Maddock
March 12, 2021
in News, Regulation
Reading Time: 2 mins read
Share on FacebookShare on Twitter

The FSU slammed CBA as it looks to push ahead with a new enterprise agreement that the union claims will “further erode the basic entitlements of staff who have already been the victims of massive systemic wage theft”. 

“The FSU won’t stand by and allow CBA to pressure its workers to accept a defective Enterprise Agreement that seeks to legitimise and perpetuate the practices which caused the massive wage theft uncovered in 2019,” said FSU national secretary Julia Angrisano.

X

“CBA’s proposed Agreement would effectively refit the rules to allow the bank to continue the unlawful behaviour of the past without consequence. Now the Commonwealth Bank is attempting to divide its workforce by pushing forward with a vote on a proposed Agreement that doesn’t pass the pub test. CBA may think that they ‘can’ do this but they forgot to ask if they should.”

But a CBA spokesperson said that it was “reprehensible and simply wrong” for the FSU to suggest that the bank was attempting to underpay its employees or deprive them of legal rights. 

“After 11 months of intensive negotiations on a proposed new enterprise agreement, we have told the union that we are approaching the right time for our people to express their choice about the new EA through a vote. The FSU took the opportunity to put its position to a vote of its members more than two months ago and did not receive sufficient support to take action to advance their claims,” the spokesperson said. 

“We believe the new EA represents the right balance of more pay, more leave, and better benefits that reflect what our people have told us they want.”

Ms Angrisano said that CBA had previously “ripped off” staff for more than “$57 million” in unpaid wages and that the proposed agreement showed that nothing had changed. CBA was forced to pay back some $53 million to around 40,000 staff in 2019. 

“CBA has a history of pressuring workers to sell banking products to consumers who don’t need them and can’t afford them. Now the bank is looking to cram a bad deal down the throats of its own workers,” Ms Angrisano said. 

“We can’t accept an Agreement that allows the CBA to continue to exploit its workers. The FSU’s role is to protect our members’ interests and voting no to this agreement is in the interest of all CBA employees.”

The new enterprise agreement will be put to 32,000 staff from next week and will be open to vote from March 24.

Related Posts

Australian Super targets $1trn within a decade

by Adrian Suljanovic
December 22, 2025

Australia’s largest superannuation fund has announced it is targeting $1 trillion in assets by 2035, up from its current size...

The biggest people moves of Q4

by Olivia Grace-Curran
December 22, 2025

InvestorDaily collates the biggest hires and exits in the financial service space from the final three months of 2025. Movements...

The sole listed fund manager reporting positive YTD gains

by Laura Dew
December 22, 2025

Of seven ASX-listed fund managers, only one has reported positive gains since the start of the year with four experiencing...

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

VIEW ALL
Promoted Content

Why U.S. middle market private credit is a powerful income solution for Australian institutional investors

In today’s investment landscape, middle market direct lending, a key segment of private credit, has emerged as an attractive option...

by Tim Warrick
December 2, 2025
Promoted Content

Is Your SMSF Missing Out on the Crypto Boom?

Digital assets are the fastest-growing investment in SMSFs. Swyftx's expert team helps you securely and compliantly add crypto to your...

by Swyftx
December 2, 2025
Promoted Content

Global dividends reach US$519 billion, what’s behind the rise?

Global dividends surged to a record US$518.7 billion in Q3 2025, up 6.2% year-on-year, with financials leading the way. The...

by Capital Group
November 18, 2025
Promoted Content

Why smaller can be smarter in private credit

Over the past 15 years, middle market direct lending has grown into one of the most dynamic areas of alternative...

by Tim Warrick, Managing Director of Principal Alternative Credit, Principal Asset Management
November 14, 2025

Join our newsletter

View our privacy policy, collection notice and terms and conditions to understand how we use your personal information.

Latest Podcast

Podcast

Relative Return Insider: MYEFO, US data and a 2025 wrap up

by Staff Writer
December 18, 2025
After more than two decades, InvestorDaily continues to be an institution that connects and influences Australia’s financial services sector. This influential and integrated media brand connects with leading financial services professionals within superannuation, funds management, financial planning and intermediary distribution through a range of channels, including digital, social, research, broadcast, webcast and events.

Subscribe to our newsletter

View our privacy policy, collection notice and terms and conditions to understand how we use your personal information.

About Us

  • About
  • Advertise
  • Contact
  • Terms & Conditions
  • Privacy Collection Notice
  • Privacy Policy

Popular Topics

  • Markets
  • Appointments
  • Regulation
  • Super
  • Mergers & Acquisitions
  • Tech
  • Promoted Content
  • Analysis

© 2025 All Rights Reserved. All content published on this site is the property of Prime Creative Media. Unauthorised reproduction is prohibited

No Results
View All Results
NEWSLETTER
  • News
  • Markets
  • Regulation
  • Super
  • M&A
  • Tech
  • Appointments
  • Podcast
  • Webcasts
  • Promoted Content
  • Events
  • About
  • Advertise
  • Contact Us

© 2025 All Rights Reserved. All content published on this site is the property of Prime Creative Media. Unauthorised reproduction is prohibited