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Regulation

BNPL to be regulated under Credit Act

Buy now, pay later providers will soon be required to hold credit licences and comply with RLOs, the Assistant Treasurer has confirmed.

Mutual bank addresses Senate inquiry into bank closures

Australia’s largest mutual bank has told a Senate inquiry into regional bank closures that some communities could benefit from a joint venture model.

Treasurer aims to release RBA review next week

The Treasurer hopes to release the Reserve Bank review next week.

ASIC bans GC financial adviser

A former property scheme promoter has been sentenced to eight and a half years’ imprisonment.

Labor ditches Robodebt contract

The Albanese government has pledged to ensure Robodebt never happens again, announcing all welfare payment debt will be managed in house over the coming months. 

Finfluencer hit with permanent injunctions

The Federal Court has made permanent injunctions against social media finfluencer Tyson Robert Scholz, prohibiting him from carrying on a financial services business in Australia in ...

Banks launch scam awareness campaign

The new campaign highlights the importance of customer alertness against criminal activity by scammers.

APRA consults on bank branches data amid closures

The prudential regulator is launching a public consultation on its ‘points of presence data’, as recommended in a regional banking report.

ASIC sues insurance company over unfair contract terms

The regulator has begun proceedings into the alleged unfair contract terms by the general insurance company.

Treasurer’s ‘initial’ response to RBA review due in April

Treasurer Jim Chalmers’ initial views on the Reserve Bank review should be known ahead of the May budget, it has been revealed.

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