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NAB agrees to pay $49.5m in CCI settlement

The major bank has agreed to pay $49.5 million to settle a class action brought against it by Slater and Gordon in relation ...

Westpac embroiled in money laundering allegations

AUSTRAC is seeking civil penalty orders against a big four bank over 23 million alleged breaches of anti money-laundering ...

NAB admits to hundreds of NCCP breaches

The major bank has admitted to breaching the NCCP in more than 85 per cent of the 297 alleged contraventions ...

CBA slashes mortgage serviceability rate

The big four bank has lowered its interest rate floor for home loan serviceability assessments for the second time in less ...

Cash rate cut stuns punters

The central bank has cut the cash rate for the fourth time in six months.

RBA reveals race-day rate verdict

The central bank has announced its monetary policy decision for the month of November.

ANZ still grappling with ‘nuanced’ lending environment

The major bank has reported a sharp contraction in home lending volumes in FY19, as it continues to adjust to a “grey area” ...

Bank CEO to step down

A non-major lender has announced the resignation of its chief executive. 

Westpac to wear additional $341m in remediation

 A big four bank has announced that its cash earnings will be hit by a further $341 million in remediation costs.

Government launches new mortgage pricing inquiry

The federal government has commissioned the ACCC to conduct a new inquiry into the pricing of home loan products in ...

AMP Bank CEO resigns, organisational structure revamped

The non-major bank has announced a swathe of changes to its leadership team and organisational structure, which includes the ...

Major bank flags $559m in new remediation costs

A big four bank has revealed that its second-half cash profit will be impacted by an additional $559 million in remediation ...

ANZ, Westpac drop variable mortgage rates

The major banks have repriced their variable home loan products in response to the Reserve Bank’s latest cut to the cash rate

Cash rate slashed to record low

The Reserve Bank has lowered the official cash rate to a historic low, marking the third cut in five months. 

YBR announces new joint venture

The diversified financial services business has partnered with an international alternative asset manager to form a ...

ASIC bans short-term lending model

The corporate regulator has used its product intervention powers to prohibit a model of short-term lending, which, it has ...

HEM battle rages on in Federal Court

The HEM debate has resurfaced following ASIC's decision to file an appeal against the Federal Court’s verdict in  its ...

Suncorp Group appoints new CEO

A non-major has announced the appointment of a new group managing director and CEO. 

Banks to face court over ‘unfair’ credit contracts

ASIC has launched civil proceedings against two non-major lenders over the alleged application of “unfair” credit contract ...

ASIC sues NAB over unlicensed introducers

The Australian Securities and Investments Commission has commenced a court case against NAB over allegations that 16 bankers ...

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