![Australian chief executive of peer-to-peer lender Ratesetter Daniel Foggo says P2P loans are becoming a more ...](/web/20161207115328im_/http://www.brisbanetimes.com.au/content/dam/images/g/i/r/x/d/w/image.related.wideLandscape.620x349.gt5ltm.png/1481073849042.png)
Retail investors shift $45 million from banks into P2P loans
Thousands of retail investors are pumping cash into peer-to-peer lending, with RateSetter reporting about $45 million has been taken out of bank accounts and lent directly to borrowers.
Thousands of retail investors are pumping cash into peer-to-peer lending, with RateSetter reporting about $45 million has been taken out of bank accounts and lent directly to borrowers.
The CEO's of the two biggest US banks say trading revenue is up 15 per cent in the latest quarter.
"Who do you think you f---ing are? ... If you try to get me, I'm going to throw you under the f---ing bus."
Westpac and National Australia Bank have both raised interest rates for key groups of home loan customers, as banks look to protect their profit margins by passing on higher funding costs.
The Commonwealth Bank has been forced to pay a further $4.96 million in compensation to victims of bad financial advice as a result of being slapped with licence conditions by the corporate regulator.
Fairfax Media and the ABC have won a defamation case brought against them by a former National Australia Bank financial planner.
SocietyOne, a peer-to-peer lender that is partly owned by Rupert Murdoch, Kerry Stokes and James Packer's companies, expects to start making profits within the next 12 to 18 months.
Suncorp Group is trying to emulate the success of Apple Stores with new financial services outlets that attempt to make going to a bank more like visiting a top retailer.
When Coalition backbencher George Christensen tweeted on November 25: "My opinion just changed. We do need a royal commission," it would have struck fear into the hearts of the captains of banking.
ME bank customers have complained of not being able to purchase petrol and groceries, with outages disrupting numerous debit and mastercard transactions on Friday afternoon.Â
CBA is raising interest rates on a range of fixed-rate home loans, the latest big bank to increase costs for home buyers seeking to lock in their borrowing costs.
If Mnuchin becomes Treasury secretary, he'll be the third Goldman Sachs alum in three decades to get the job as the President-elect surrounds himself with bankers and billionaires.
ANZ Bank chief Shayne Elliott insists the bank's strategy of breaking ranks with rivals and doing a deal with Apple Pay is helping the lender's business.
The high-rise construction boom that is transforming the skylines of Sydney, Melbourne and Brisbane will probably leave parts of these cities with too many apartments, ANZ Bank chief executive Shayne Elliott predicts.
Bank of Queensland chairman Roger Davis has highlighted the risks from a looming surge in apartment settlements Brisbane and Melbourne, amid signs more buyers are facing difficulties completing off-the-plan purchases.
Ombudsman Kate Carnell is suggesting changes to the banking code based on contracts and transparency.
The competition watchdog has knocked back a request from three of the country's major banks to launch a collective boycott of Apple Pay, in what it says is a "finely balanced" draft decision.
AMP has shaken up its management team in the wake of escalating losses in its life insurance division.Â
A former Westpac financial planner has been banned from providing financial advice for eight years after an investigation found he gave clients inappropriate advice, costing the bank $1.1 million.
Corporate cop Greg Medcraft says the government's banking inquiry is right to focus on ways to make banks share more data on their customers, a move that would boost competition in the concentrated sector.
Australia's major banks must review whether staff have been setting up accounts customers did not want in order to hit sales targets, after the cross-selling scandal engulfing United States lender Wells Fargo.
Westpac Bank is the first of the majors to increase interest rates on its fixed rate home loans and investment loans, but market watchers says it likely the other majors will follow.Â
ANZ Bank and Macquarie Group have admitted their traders tried to rig contracts in Malaysia's foreign exchange markets.
Banks say a plan to name and shame employees who break the rules within five days after their breach is "unrealistic" and have hosed down support for a banking tribunal.
Credit Suisse is courting investors to raise as much as $US2 billion for a fund that will buy stakes in hedge-fund firms.
Westpac-owned RAMS is hiking fixed interest rates by up to 0.4 percentage points, the latest lender to respond to growing market bets that official rates have bottomed.
Bank employees who break the rules would be publicly named and shamed within five days under changes proposed by a parliamentary committee examining the big four banks.
Identity theft is the fastest-growing type of fraud and a growing source of losses for banks as cyber criminals target the vast array of personal information held online, a new report warns.
A lack of accountability and a "few bad apples" mindset is plaguing Australia's largest corporations and is behind the mishandling of scandals and widespread misconduct in the financial services sector.
More parents are putting their assets on the line to guarantee their childrens' home loans, two major banks say, as rising prices prompt first home buyers to take on bigger debts.
1260-day wage freeze for Barrier Reef public servants before EA consigned to a watery grave.
Adani is facing a fresh legal battle over its planned Carmichael coal mine, a day after announcing workforce arrangements for the long-awaited project.
The Treasury and the Reserve Bank are likely to 'look through' the reported numbers to focus on what's happening beneath them.
Treasurer Scott Morrison has branded the dramatic end to five continuous years of economic growth "not just a reminder, not just a wake-up call, but a demand to support economic policies that drive investment and jobs".
A Thomas the Tank Engine train, a Minion toy rifle and 45 other dangerous toys will be destroyed by a steamroller as part of an annual product safety blitz.
Experimenting in your youth is fine, but there comes a time when every man needs to grow up.
End of year celebrations can be a time to show employees how much they're valued.
If you're limping towards the end of the year it pays to know when everyday pressures turn into something more sinister.
Running a business out of home gives Christy Hind flexibility that most working parents could only dream of.
A free independent guide from SMH with expert information.
A free independent guide from SMH with expert information.