The Commonwealth Bank of Australia (ASX: CBA) had a relatively flat week last week, with the shares changing hands for $75.36 last Friday around the same level it started the week. Last weekend CBA announced it would remove the $2 ATM fee which penalised people from other banks who withdrew money from CBA's ATMs.
As one of Australia's major banks that provides services across fields such as banking, fund management, insurance and share-broking, such a decision will ensure that attention shifts away from the various problems CBA has encountered in previous months.
This includes claims of money laundering that resulted in civil proceedings brought forward by the Australian Transactions Reports & Analysis Centre (AUSTRAC) and which also led to CBA's share price plunging.
No doubt the ATM fee announcement will continue to bolster the recovery of CBA's share price as the consensus amongst analysts is that investors should hold onto their Commonwealth Bank shares.
