Posted
The dollar stayed down ahead of tomorrow's interest rate decision despite a solid improvement in retail sales in January.
Topics: business-economics-and-finance, currency, banking, melbourne-3000, australia
Posted
NAB chief executive Andrew Thorburn faces tough questions over the bank's financial planning arm and its practises.
Posted
| UpdatedNAB chief executive Andrew Thorburn faces tough questions over the bank's financial planning arm and its practices.
Topics: banking, business-economics-and-finance, company-news, government-and-politics, australia
Posted
The Commonwealth Bank agrees to repay employer superannuation to part-time workers that was not applied to extra hours or overtime over the past eight years.
Topics: superannuation, business-economics-and-finance, banking, australia
Posted
| UpdatedThe corporate regulator says it has been investigating up to 11 lenders over their home lending practices, after announcing court action against Westpac.
Topics: banking, regulation, housing-industry, courts-and-trials, fraud-and-corporate-crime, australia
Posted
| UpdatedThe Australian Securities and Investments Commission is taking Westpac to Federal Court in a landmark case over its responsible lending practices, but as Stephen Long writes, it is far from the only lender to face such allegations.
Topics: banking, law-crime-and-justice, business-economics-and-finance, consumer-finance, consumer-protection, australia
Posted
| UpdatedThe Australian Securities and Investments Commission will take Westpac to Federal Court over its responsible lending practices.
Topics: law-crime-and-justice, company-news, business-economics-and-finance, consumer-finance, consumer-protection, corporate-governance, banking, australia
Posted
A report commissioned by CommInsure into claims of unethical behaviour at the Commonwealth Bank's insurance arm clears the life insurer of "systemic" and "cultural" problems, despite not speaking to any of the victims nor Benjamin Koh, the whistleblower who revealed the scandal.
Topics: business-economics-and-finance, company-news, consumer-protection, consumer-finance, banking, insurance, regulation, health, australia
Posted
If Australia's banks really want to redeem their tattered reputations, they need to focus on meeting their customers' needs not simply selling them more product.
Topics: banking, consumer-protection, management, australia
Posted
| UpdatedFormer New South Wales premier Mike Baird is moving back to banking, as the National Australia Bank's chief customer officer for corporate and institutional banking.
Topics: banking, management, corporate-governance, business-economics-and-finance, states-and-territories, australia, nsw
Posted
| UpdatedWestpac says it will compensate customers "who have experienced a financial loss as a direct result of the branch system issue" due to a major outage that disrupted transactions at a majority of its branches today.
Topics: banking, consumer-finance, money-and-monetary-policy, haymarket-2000, australia
Posted
| UpdatedWestpac, one of Australia's big four banks, investigates a major outage that has hit services at branches around the country.
Topics: banking, consumer-finance, money-and-monetary-policy, australia
Posted
The Federal Government is facing pressure to ban lucrative mortgage broker commissions, which consumer groups say encourage bad behaviour and are contributing to record household debt.
Topics: consumer-protection, banking, australia
Posted
| UpdatedEven as the Commonwealth Bank last week unveiled another record half-year profit of $5 billion, not everything was rosy — its life insurance arm CommInsure continues to be a headache, and with ASIC campaigning insurers to publicly report claim figures, premiums could rise as a consequence.
Topics: business-economics-and-finance, company-news, consumer-finance, consumer-protection, economic-trends, banking, insurance, health, australia
Posted
The Commonwealth Bank is accused of refusing to pay the full employer superannuation entitlement to more than 7,000 part-time workers.
Topics: superannuation, banking, australia
Posted
An overnight issue with Suncorp Bank's systems causes some accounts to appear anywhere between $15 and $1,400 overdrawn.
Topics: banking, industry, business-economics-and-finance, brisbane-4000
Posted
| UpdatedANZ's move to cut credit card interest rates by up to 2 per cent is cold comfort for the bank's customers who have been paying too much for too long, consumer advocate group Choice says.
Topics: banking, business-economics-and-finance, industry, australia
Posted
| UpdatedFormer Queensland premier Anna Bligh is appointed as CEO of the Australian Bankers' Association, an industry group representing 25 banks across the country.
Topics: banking, people, alp, regulation, brisbane-4000, qld, nsw
Posted
| UpdatedANZ bursts out of the blocks with a large profit jump in its first quarter trading update, sending its shares 1.5 per cent higher.
Topics: banking, company-news, australia
Posted
| UpdatedThe Commonwealth Bank's move to lift investor home loan rates is the latest step to slow the rampant housing market, but analysts warn if property prices slow too much they might fall over.
Topics: banking, housing-industry, consumer-finance, australia
Posted
| UpdatedAustralia's biggest lender, Commonwealth Bank, unveils a record first-half profit of $4.9 billion, up 6 per cent on the previous record.
Topics: banking, industry, business-economics-and-finance, australia
Posted
| UpdatedBankwest confirms that property investors are no longer able to include the tax benefits of negative gearing when applying for a home loan from the institution.
Topics: consumer-finance, banking, housing-industry, australia
Posted
| UpdatedAustralia's major banks are sharpening up incentives to business to win a greater slice of lucrative default superannuation schemes, according to research out today.
Topics: business-economics-and-finance, industry, banking, superannuation, australia
Posted
| UpdatedThe governor of the Reserve Bank backs the Government's campaign to lower the corporate tax rate, warning Australia needs to remain internationally competitive.
Topics: business-economics-and-finance, company-news, economic-trends, banking, money-and-monetary-policy, multinationals, regulation, australia
Posted
| UpdatedA former Westpac banker is sentenced to three years in prison after signing up elderly customers, including a 98-year-old woman in an aged-care facility, to $4 million in loans they could not repay.
Topics: banking, business-economics-and-finance, company-news, consumer-finance, consumer-protection, corporate-governance, australia, qld