Clancy Yeates

Clancy Yeates

Clancy Yeates writes on business specialising in financial services. Clancy is based in our Sydney newsroom.

Macquarie Group CEO Nicholas Moore says the bank tax will harm its ability to compete in retail banking.

Treasury assumes 'some pass-through' of bank tax

UPDATED
1 hr ago

Treasury's costings for the $6.2 billion tax on banks assume they will pass on some of the impost to their customers, despite the government urging lenders to "absorb" the levy.

The big banks have tightened home lending standards in recent years, and there could be more to come.

Aussie banks still more generous than their global peers

Australian banks have become stricter when it comes to how much they lend homebuyers but they are still more generous than their global peers, research finds.

ANZ is predicted to receive a 1.5 per cent boost to profits from Friday's rate hike.

Rivals to follow ANZ interest-only rate hike: analysts

ANZ's move to jack up the cost of interest-only home loans will probably be copied by rivals, analysts predict, as lenders respond to a regulatory crackdown while also protecting their profit margins.

The share of payments made in cash, by number, has fallen below 40 per cent.

We're drifting away from cash, and that's good economic news

COMMENT

As more of us use electronic payments, the cost of being a "cash only" business will rise.

Banks are charging customers with interest-only home loans interest rates up to 0.56 percentage points higher, RateCity ...

Interest-only home loan customers tipped to be hit harder

Customers with interest-only loans are likely to be charged an even higher premium by banks compared with those who are also paying back principal, home loan experts predict.

Westpac says ASIC has not established that its sample of seven loans were unsuitable.

Westpac hits back at ASIC responsible lending claim

Westpac has rejected the corporate watchdog's claim it broke responsible lending laws in the mortgage market, saying the regulator has failed to prove that a group of loans it made were unsuitable for consumers.

Westpac said is welcomed the ban imposed on its former planner.

Former Westpac planner cops five-year ban

A former Westpac financial planner has been slapped with a five-year ban after it was revealed 177 clients had been charged fees without receiving all the services they had paid for.

The bank said the cut would benefit 80 per cent of its owner-occupier customers, who were paying principal and interest.

ANZ, Suncorp target investors with rate hike

UPDATED

ANZ Bank raises rates on interest-only home loans but cuts them on principal and interest loans.

The Senate has backed a commission of inquiry into the major banks - but it still has to win support in the House.

'You're kidding' - how Aussies banks mistreat customers

The government's plan to beef up the banking regulator's powers could see executives facing stiff penalties for "honest, if mistaken, risk judgments", Commonwealth Bank director Harrison Young says.

Former BBY executive chairman Glenn Rosewall is facing a $9.3 million claim from St George Bank.

St George makes $9.3 million claim against Glenn Rosewall

St George Bank is taking legal action seeking $9.3 million from former BBY executive chairman Glenn Rosewall.

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Clancy Yeates

Business