Commonwealth Bank will face a fresh class action on behalf of thousands of MySuper account holders with its superannuation arm, Colonial First State, as the fallout of the Hayne banking royal commission deepens.

Maurice Blackburn will on Thursday file the latest class action against the banking giant in the Federal Court alleging its subsidiary, Colonial, breached its duties as a superannuation trustee causing substantial losses to more than 100,000 members over several years.

Commonwealth Bank faces a new class action. Credit:Yianni Aspradakis

In a statement provided on Wednesday night the law firm said the accounts affected by Colonial's alleged breaches represented $3.2 billion of superannuation savings.

Commonwealth Bank and its various arms are facing several class actions relating to various regulatory run-ins including money laundering breaches, credit cards and superannuation. Earlier this month the bank's insurance arm was charged with 87 criminal offences for alleged breaches of anti-hawking laws.