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'Ratchet up the mongrel': Bank regulator shows more teeth

'Ratchet up the mongrel': Bank regulator shows more teeth

APRA boss Wayne Byres says he will let its bank supervisory team off the leash.

  • by Sarah Danckert

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ANZ says broking could become 'a privilege for the wealthy'
Banking royal commission

ANZ says broking could become 'a privilege for the wealthy'

ANZ Bank says going to a mortgage broker could become "a privilege for the wealthy" if commissions were scrapped in favour of a flat fee paid by customers.

  • by Clancy Yeates & Sarah Danckert
'Ratchet up the mongrel': APRA vows to get tougher on the banks
Banking royal commission

'Ratchet up the mongrel': APRA vows to get tougher on the banks

A paper discussing APRA's supervision of the Commonwealth Bank recommends the regulator shows more bite - and that's what APRA intends to do, says its boss.

  • by Sarah Danckert, Miriam Steffens & Clancy Yeates
ANZ's Elliott asked David Gonski for a pay cut
Banking royal commission

ANZ's Elliott asked David Gonski for a pay cut

ANZ Bank chief executive Shayne Elliott requested a pay cut from chairman David Gonski for the sake of "accountability" and "crediblity."

  • by Clancy Yeates & Sarah Danckert
You'd think the ANZ boss would see the hidden improvised explosive devices. But no.
Opinion
Big four

You'd think the ANZ boss would see the hidden improvised explosive devices. But no.

ANZ boss Shayne Elliott was the latest of the bank bosses to walk into the now familiar trap of talking up his bank’s laudable values.

  • by Elizabeth Knight
ANZ caps credit card gambling, ditches tobacco investment
Banking royal commission

ANZ caps credit card gambling, ditches tobacco investment

ANZ boss Shayne Elliott painted the bank as a good guy, but ANZ's terrible breach reporting record and its overcharging of two million accounts was also a focus

  • by Sarah Danckert & Clancy Yeates
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AMP's few bad apples claim riles Commissioner Hayne
Banking royal commission

AMP's few bad apples claim riles Commissioner Hayne

Preliminary findings said AMP had put in place a business strategy to charge some customer fees for service they did not receive over a 90 day period.

  • by Sarah Danckert
Time to pay? Aussies owe more than $900m on Afterpay-style services
Regulation

Time to pay? Aussies owe more than $900m on Afterpay-style services

Buy now pay later services like Afterpay have escaped being treated as credit providers just in time for Christmas.

  • by Charlotte Grieve & Colin Kruger
ANZ CEO to the chairman of the board: Pay me less!
Banking royal commission

ANZ CEO to the chairman of the board: Pay me less!

ANZ boss Shayne Elliott revealed at the royal commission that he asked the bank’s chairman, David Gonski, to lower his remuneration by 22 per cent.

  • by Sarah Danckert, Miriam Steffens & Clancy Yeates
Ken Henry ponders the state of capitalism - and agrees it's not pretty
Opinion
Banking royal commission

Ken Henry ponders the state of capitalism - and agrees it's not pretty

Ken Henry’s soliloquy on the state of capitalism provided one of the more philosophical moments in an at times testy appearance before the royal commission.

  • by Stephen Bartholomeusz
AMP's fees-for-no-service scandal could top $1 billion
Banking royal commission

AMP's fees-for-no-service scandal could top $1 billion

AMP has uncovered a fresh fees-for-no-service issue, this time in its superannuation business as the cost of the scandal to its business grows.

  • by Sarah Danckert & Clancy Yeates