Commonwealth Bank has yielded to a union campaign and will drop pay secrecy clauses from employment agreements.  

This brings CBA into line with its three major bank peers and the Reserve Bank of Australia.

“This announcement by the bank will give workers the freedom to highlight inequities in pay when they are uncovered without fear of losing their jobs,” Julia Angrisano, National Secretary, Finance Sector Union of Australia said on Friday. 

“That is an important first step but will not in and of itself drive down the 26.9 per cent gender pay gap in our industry.

“The FSU recognises that the Big Four banks have now set the industry standard. We call on the rest of the industry to follow suit and take this opportunity to remove pay secrecy across the entire finance industry.”