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Ban on broker commissions would 'lift interest rates'
Industry says abolishing commissions would drive most mortgage brokers out of business.
Clancy Yeates writes on business specialising in financial services. Clancy is based in our Sydney newsroom.
Industry says abolishing commissions would drive most mortgage brokers out of business.
The rise of newfangled digital payments took another step last week, when the Manly Ferry began accepting tap-and-go credit card payments for fares.
Bank reaches confidential settlement with stockbroker who was dumped after tweet.
The fight over $2.4 billion a year in mortgage broker commissions is heating up, as consumer groups call for all such payments to be scrapped.
A third of Australia's largest listed companies are keeping their investors in the dark about how they are managing the potentially large financial risks of climate change, a survey has found.
Despite a shrinking market for personal credit, lenders in the nascent peer-to-peer sector such as SocietyOne are enjoying strong growth.
Customers of ING Direct may soon be able to ask their "digital assistant" to check their bank balance, or tell a "chatbot" on Twitter to freeze a credit card that has gone missing.
Financial advisers working at firms owned by National Australia Bank failed to clearly tell at least 150,000 clients they were recommending products that had been manufactured by the bank.
Superannuation fund Cbus will slash how much its youngest members are spending on life insurance, as part of a crackdown on unnecessary insurance cover purchased through the retirement saving system.
National Australia Bank will start automatically knocking back customers seeking to borrow a high multiple of their income through an interest-only home loan, amid concerns over the risks created by rising household indebtedness.
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