APRA crackdown is good news for some lenders
The Law of Unintended Consequences does not sleep.
The Law of Unintended Consequences does not sleep.
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 corporate watchdog is banning an increasing number of financial advisers over misconduct, but wants more power to go after the banks that hire them.
The Commonwealth Bank's compensation bill for victims of bad financial advice has risen to $29 million but victims say they were excluded from the outset.
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'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.
National Australia Bank is facing fresh claims its financial planners have falsely certified customer ID documents, in a potential breach of anti-money laundering rules.
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 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.
Macquarie Group will acquire Cargill's North America power and gas business for an undisclosed amount.
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.
ANZ Bank raises rates on interest-only home loans but cuts them on principal and interest loans.
Deutsche Bank is not allowed to share information it may have about President Donald Trump's finances and his possible ties to Russia despite a request from US lawmakers, the German lender told Congress on Thursday.
A new compensation scheme for victims of bad financial advice needs to be considered to restore trust in the financial sector, the head of the government's financial review panel says.
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.
Westpac customers have been targeted by criminals in a malicious email campaign this week that attempts to collect their personal and banking information.
St George Bank is taking legal action seeking $9.3 million from former BBY executive chairman Glenn Rosewall.
Banks put themselves in an "untenable situation" by failing to sack any of the senior executives who presided over a series of scandals.
National Australia Bank chairman Ken Henry says the nation faces an "extraordinary" economic opportunity to develop regions outside the capital cities, as the bank bets on a long-term lift in rural Australia.
More than just about any other business, large banks (and their shareholders) receive big commercial advantages from their essential role in their economy.
National Australia Bank will advise customers who are overseas on the Aussie dollar cost of making purchases in foreign currency, including fees, as banks try to design apps that can adapt to what their clients are doing.
Such is the impact of Amazon that it is even affecting what people expect from their bank.
Macquarie Group, battling a surprise $6.2 billion tax on Australia's lenders, left open the option of moving its headquarters abroad on Friday.
Three of the country's big banks have cut interest rates paid to many customers with savings accounts in the past month as lenders try to protect their profit margins.
Wesley William Hall is suing Westpac for unfair dismissal and is seeking $600,000 in compensation.
A former NAB financial planner has been permanently banned from the industry after pleading guilty to misappropriating $2.3 million in client funds. Another is fighting a ban in Melbourne.
Australia's $2.8 trillion fund industry is one of the last havens for fund managers relying on human judgement for their investment calls. That may be about to end amid the global onslaught of low-cost, index-tracking funds.
NAB chair Ken Henry says communities and businesses can play a bigger role to develop projects.
Corporate watchdog investigates whether share traders exploited inside information on bank levy.
Customers have been left without basic banking services as the major bank suffers what appears to be a nationwide outage.
The local sharemarket is due to open slightly down on the back of a soft lead from Wall Street.
A growing number of young Australians are stashing their cash in the stock market in a bid to build wealth and get a foot on the property ladder.
Airbus has unveiled an upgraded version of the Airbus 380, the world's biggest passenger jet.
Australia's largest privately owned cold storage company has been stopped from transferring workers to a new labour-hire company to avoid negotiating a new enterprise agreement.
Gold bulls may have reason for their optimism on the outlook for the precious metal, the ANZ Bank reckons.
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A free independent guide from SMH with expert information.
A free independent guide from SMH with expert information.