The Federal Court has ordered GE Money to pay a penalty of $1.5 million for making false or misleading representations to more than 700,000 of its credit card customers.
CBA chief Ian Narev has announced an ‘open review program’ to investigate the advice failures at CBA dealer groups Commonwealth Financial Planning and Financial Wisdom.
NAB’s shock announcement last week of a major rebranding and the reintroduction of first-year trail commissions marks a significant milestone for the lender.
ING DIRECT will harness its broker referral program to boost distribution of its superannuation product.
A commercial mortgage originator has closed its inaugural commercial mortgage backed securitisation transaction.
Strong activity across RP Data’s valuation platforms indicates home loan demand is yet to moderate.
Building societies are expected to grow more than the mortgage industry in the year ahead.
Low interest rates have failed to attract first home buyers to the market, with the situation expected to deteriorate when rates eventually rise.
The mortgage industry is expected to see further consolidation as smaller players struggle to compete in an increasingly digital environment.
A leading financial services lawyer believes commissions in mortgage broking and financial planning are beneficial to all.