Why Brent Oil Is Up Today — November 12, 2026
Brent rose about 3.2% on November 12 as a sharp late-session reversal followed President Trump’s Iran comments. Here is what the move may mean for the next session.
Verified and updated: 12 November 2026, 21:11 UTC.
National Australia Bank (NAB) has entered an enforceable undertaking with the Fair Work Ombudsman (FWO) over underpayments affecting 65,999 current and former employees. The review covers entitlements dating from 2012 to 2026, and NAB says its payroll review and remediation are still ongoing. If you worked for NAB during that period, you could be among the people whose pay or entitlements were reviewed—but the total affected does not mean every former or current employee is owed money.
The FWO says back-payments to affected workers range from less than $5 to more than $87,000, including interest and superannuation, with an average of about $1,934. NAB says it will notify people it identifies as affected and has published a contact email for questions. The FWO’s 12 November announcement and NAB’s notice are the primary sources for the current figures and next steps.
Destaques
Wage remediation is an employer’s process for finding and correcting past payroll shortfalls. It usually involves checking what workers should have received under the applicable workplace laws and enterprise agreements, comparing that with payroll and time records, then paying any verified shortfall and related entitlements.
In NAB’s case, the FWO says the bank is completing payments of $127 million in wages, plus $34 million in interest and $8 million in superannuation, to affected workers. The regulator also says NAB has so far paid at least $155 million to current and former employees, including wages and entitlements, interest and applicable super. Those are different reported totals and categories; they should not be added together as though they were separate amounts still owed. NAB’s notice separately reports more than $136.3 million in underpayments identified by its review. The headline figures describe the program overall, not an individual worker’s entitlement.
The FWO says the underpayments affected a broad range of casual, part-time and full-time staff in roles across personal and business banking. Examples include customer and business support advisers, analysts, lending bankers, consultants, branch and business managers, and project managers. The review covers all Australian states and territories.
A person’s job title or employment status alone cannot confirm whether they were underpaid. The FWO identified issues involving ordinary wages, penalty rates, shift loadings, overtime, meal and standby allowances, termination payments, annual, personal and long-service leave, and superannuation. Which items matter depends on a worker’s role, hours, applicable agreement and employment dates.
The FWO attributed the problems to several contributing issues, including gaps in governance and compliance oversight, inadequate record-keeping, legacy payroll technology and limited specialist payroll capability. It also cited failures to reconcile pay regularly, capture time and attendance adequately, accrue leave correctly, and apply entitlements in successive enterprise agreements.
The FWO says NAB first self-reported underpayments in late 2019 after finding errors in implementing an enterprise agreement. A broader review then identified issues going back to 2012. When implementing a new agreement in 2024, NAB found that earlier compliance issues had not been adequately identified and corrected. The undertaking requires NAB to complete the review, strengthen oversight and reporting, implement a new payroll platform, and use independent audits to assess compliance.
NAB says it will directly notify people identified as affected, including where the amount is small. If you think you may be covered but have not heard from the bank, contact NAB at Payroll.Remediation@nab.com.au and ask whether the review includes your employment period and whether any payment or adjustment is recorded for you. Do not assume that an old role, a small expected amount or a change of contact details means you are outside the review.
Gather any payslips, rosters, timesheets, employment agreements and records of leave or termination payments you still have. Fair Work says employers must retain time and wage records for seven years, and employees can ask to access their own records even after leaving the job. The FWO’s record-keeping guidance explains access rights and the kinds of records that should be kept.
If you cannot resolve a question with NAB, contact the Fair Work Ombudsman on 13 13 94 or visit Fair Work’s website. The FWO says entitlements owed to workers it cannot locate will be paid into the Commonwealth’s unclaimed monies account, which people can search. Keep copies of correspondence and any calculation or payment notice you receive. If you believe your circumstances are not covered or the calculation is unclear, a union or qualified workplace relations adviser can help you assess the next step.
The undertaking is intended to address both back-pay and the systems that led to the errors. NAB has committed to stronger planning when future enterprise agreements are introduced, improved ways to track employee complaints, staff forums and channels for raising concerns, board reporting, and training on recording additional hours. The FWO says it will monitor compliance with the commitments. These are required measures under the undertaking; they do not guarantee that every individual query will be resolved on a particular date.
For workers, the practical point is to check communications from NAB, keep employment records and ask directly if the review’s status is unclear. The available public information does not establish that every NAB employee—or every person who worked there at any time—will receive a payment.
No. It is the number of affected current and former employees identified in the FWO announcement. Your individual eligibility and amount depend on your employment and pay records.
Yes. NAB says affected former employees will be contacted, and the FWO says employees can access their employment records after leaving. Contact NAB at Payroll.Remediation@nab.com.au if you need to check your case.
The Fair Work Ombudsman provides free information on 13 13 94. You can also speak with your union, if you are a member, or seek advice from a qualified workplace relations professional.
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