Liberal MP Tim Wilson has grilled the major banks on what regulatory changes would be needed to allow first home buyers to drain their superannuation for house deposits.
The regulator has granted a restricted ADI licence to a digital personal lender, making it one of two restricted ADIs in Australia.
The chairman of BNK Banking Corp has resigned, prioritising his work as chief of a business lender.
Dr Guy Debelle has been reappointed as the central bank’s deputy governor for another five years, effective in September.
The Reserve Bank governor has insisted that Australia is unlikely to reach the prerequisites for raising the cash rate sooner than 2024, despite clashing industry speculation.
The Australian Banking Association has commissioned an independent review of the Banking Code of Practice, with an industry consultation calling for submissions.
Westpac has sold its New Zealand life insurance business for $373 million, after offloading its local general insurer for $725 million.
The RBA has announced its decision for the official cash rate for July, as well as changes to strategies around its government bond-buying program.
Non-bank Bluestone has gone live with its new platform, all set to transition its customers across.
Australia’s housing market jumped by 1.9 per cent in June, taking annual growth for the last financial year to 13.5 per cent.
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