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Westpac to cough up $113m over ASIC lawsuits

The Federal Court has ordered Westpac to pay $40 million for charging dead customers financial advice fees, in the last of ...

Mutual banks want consumer credit law review

A banking industry body has urged for a probe into Australia’s consumer credit legislation and for regulators to help keep ...

Conduct ‘appropriate’ due diligence on crypto-backed lending, APRA urges

Risk management expectations for crypto-backed lending and other crypto assets have been unveiled by the prudential regulator

Non-banks could abuse open banking, say consumer groups

A number of consumer groups have raised concerns around Treasury’s push to extend the open banking regime to non-bank ...

March quarter shows housing sentiment steady: NAB

Growing rents and slowing house price growth keep housing sentiment steady in Australia, NAB property survey reveals.

MFAA calls for BNPL inclusion in open finance

The body has said the addition is needed for CDR to be “truly inclusive of the whole non-banking lending sector”.

Australian Unity appoints new bank CEO

The mutual lender has announced it will welcome a new chief executive and executive general manager of its retail banking ...

New VOI and signing tech launches

A new e-signing and identity verification solution has been launched that aims to improve security while reducing the VOI and ...

2022 sees home buyers ‘return to the capitals’

With the relaxing of COVID restrictions this year, property sale settlements saw a return to the cities, with most regional ...

Government boosts max property prices for home guarantees

Prime Minister Scott Morrison has promised higher property price caps for new buyers under the Home Guarantee Scheme from ...

Property could be at the end of the supercycle boom: Shane Oliver

The end point of the 25-year “supercycle boom” in property prices may be nigh, AMP’s chief economist Dr Shane Oliver has ...

Time to fix rates or risk mortgage stress, report warns

Research has found that 584,000 mortgage holders were at risk of mortgage stress at the end of 2021, a “record low” due to ...

New online guide to ease stress for first home buyers

South Australians looking to buy a new home are set to benefit from a free online education program that will help ...

Predictive analytics in lending expected ‘in next 12 months’

Lenders and brokers will be able to harness predictive analytics from open banking data to proactively offer loan products in ...

BOQ Group reports $2.6bn mortgage rise in 1H22

The non-major banking group's residential and commercial lending saw an uptick over the first half of 2022, including an end ...

Property industry braces for rate rises

Industry sentiment around residential housing has slipped, with looming cash rate rises expected to be the dominant weight ...

High schools urged to reform financial literacy approach

New research has found Australian schools’ current approach to financial literacy is failing teenage girls and that it should ...

RBNZ lifts interest rates to highest in 22 years

New Zealand’s cash rate has increased by 50 bps, with rising inflation expectations said to be a key driver in the decision

Looming rate rises knock borrower confidence: Westpac

A survey from the major bank has shown confidence among mortgage holders dipped by 9.2 per cent over April, amid concerns ...

Homes for Homes opens funding to NSW, WA

The social housing non-profit has revealed that its fifth round of funding will cover projects based in NSW and Western ...

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