Posted
| UpdatedAt a time when the major banks are facing the likelihood of more lending curbs, ING Direct has ambitions to grow mortgages. The CEO of ING Direct, Uday Sareen, speaks to Alicia.
Topics: business-economics-and-finance, banking, australia
Posted
| UpdatedWestpac will raise its home loan interest rates for investors and owner-occupiers, following a similar move by National Australia Bank.
Topics: banking, housing-industry, australia
Posted
| UpdatedMany workers don't even realise they've got insurance that covers death and disability paid for out of their super funds but, for casuals, even though they're still paying they may not be covered.
Topics: superannuation, insurance, consumer-finance, consumer-protection, banking, regulation, business-economics-and-finance, australia
Posted
| UpdatedDodgy mortgage lending practices have become so rife that the corporate regulator ASIC has confirmed it has a significant proportion of Australian banks under investigation.
Posted
| UpdatedThe Australian dollar jumped sharply as the Federal Reserve's rate hike last night took the wind out of the US dollar.
Topics: business-economics-and-finance, currency, company-news, banking, australia, melbourne-3000
Posted
| UpdatedNational Australia Bank lifts home loan rates by as much as a quarter of a percentage point, blaming rising funding costs and increased regulation.
Topics: banking, money-and-monetary-policy, housing-industry, australia
Posted
| UpdatedAustralia's Reserve Bank may be on hold this year, but the latest US Federal Reserve interest rate hike will push up your mortgage costs.
Topics: money-and-monetary-policy, economic-trends, banking, housing-industry, business-economics-and-finance, united-states, australia
Posted
The corporate watchdog says Westpac and ANZ have agreed to court enforceable undertakings to improve supervision of staff after their foreign exchange traders manipulated the foreign currency market over several years.
Topics: currency, business-economics-and-finance, company-news, banking, markets, regulation, australia
Posted
| UpdatedReal estate investors stand to be hardest hit as banks reprice mortgages to meet tougher regulatory requirements, according to a new report.
Topics: business-economics-and-finance, company-news, economic-trends, consumer-finance, banking, housing-industry, markets, money-and-monetary-policy, regulation, australia
Posted
| UpdatedConsumer sentiment around real estate is at the lowest level on record, despite general optimism about Australia's economy, according to a widely watched Westpac survey.
Topics: business-economics-and-finance, economic-trends, consumer-finance, banking, markets, money-and-monetary-policy, australia
Posted
| UpdatedDonald Trump's big spending plans — on defence, on a Mexican wall and anything else that takes his fancy — will spark inflation, and cue the US Federal Reserve to raise interest rates, writes business editor Ian Verrender.
Topics: business-economics-and-finance, banking, economic-trends, markets, world-politics, united-states
Posted
| UpdatedInvestor lending accelerated to its fastest growth since the bank regulator APRA imposed tough restrictions to slow down lending at the riskier end of the property market.
Topics: business-economics-and-finance, banking, regulation, money-and-monetary-policy, housing-industry, government-and-politics, australia
Posted
Westpac chief executive Brian Hartzer stops short of endorsing a parliamentary committee proposal that dodgy bank executives be publicly named and shamed, despite ceding in principle support.
Topics: banking, insurance, federal-parliament, australia
Posted
| UpdatedCommonwealth Bank chief executive Ian Narev defends a decision not to interview customers as part of commissioned report that last week cleared its life insurance arm of "systemic" problems.
Topics: banking, company-news, regulation, corporate-governance, government-and-politics, australia
Posted
| UpdatedWe have taken a look at what would happen if we all stopped spending money on small luxuries such as new clothes, heading out for a drink (and, yes, brunch). Spoiler: it gets a bit terrifying.
Topics: business-economics-and-finance, banking, retail, australia
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