Commonwealth Bank is facing 87 criminal charges over unscrupulous practices in its life insurance arm CommInsure.
It's the first major bank to face criminal charges following the banking royal commission. CommInsure has been charged with "hawking" for trying to sell insurance products through unsolicited phone calls.
READ ASIC's announcement
The charges are not directly related to the Royal Commission as the allegations did not feature as a case study.
But ABC's Peter Ryan says the allegations reflect a key theme of misconduct revealed during the year-long inquiry.
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