•    Litigation law firm Phi Finney McDonald - boosted last year by talent from troubled firm Slater and Gordon - is preparing a class action against the Commonwealth Bank of Australia, on behalf of large US pension funds and other investors that acquired CBA shares between 16 June 2014 and 3 August 2017. The proposed class action is being funded by Therium Australia Limited. On 3 August 2017, Australia's anti-money laundering authority, Austrac, announced that it had commenced proceedings against CBA, alleging widespread non-compliance by the bank with anti-money laundering and counter-terrorism financing requirements, failure to assess the AML/CTF risk posed by "intelligent" deposit machines between May 2012 and July 2015, and other technical breaches of the AML/CTF rules.•    NZCU South has become the third New Zealand credit union in eight months to upgrade to the Oracle Flexcube banking system, as part of Co-op Money NZ's core banking replacement program. Co-op Money NZ, the industry association for credit unions and mutual building societies, also delivered Oracle Flexcube to the two largest credit unions by assets -  ACU (in August 2017) and NZCU Baywide (last month). Six more customers will move to Oracle Flexcube later this year.