Commonwealth Bank gave a roofer making $70,000 a year credit cards and increased his credit limit to $35,000 despite knowing he was a gambling addict, the Hayne royal commission heard on Thursday.
On the second last day of scheduled hearings focusing on the subject of consumer credit, the royal commission heard the story of David Harris and how he ended up in serious debt after a multi-year gambling binge funded with CBA credit cards.
Mr Harris told the court of how his gambling problem escalated, becoming emotional at points during his testimony.
“I would max it out, pay off chunks, I would try and work overtime to help pay off chunks and I would wait until I had a big win or saved up a lump of money to pay it off and do it ag…
Read the full article at: http://www.afr.com/business/banking-and-finance/financial-services/banking-royal-commission-cba-peppered-problem-gambler-with-credit-offers-20180322-h0xu7x