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Making news this week (ending 1 July)

Making news this week, Volt Bank set to exit the banking industry, APRA confirms banks treatment for home guarantees, Australian outright home ownership falls, ASIC wins Cigno and BHF Solutions appeal… and more. 

 

 

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Volt Bank to exit banking industry

Neolender Volt Bank is handing bank customer deposits and will exit the banking industry, it has been revealed.

Prudential treatment for Home Guarantee Scheme loans confirmed

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APRA has told the banks how they need to treat the reporting and risk management for loans under the government’s expanded Home Guarantee Scheme.

Outright ownership falls over 25 years: ABS

The proportion of Australians who completely own their property has fallen by 11 percentage points according to the latest census data.

ASIC wins Cigno appeal

ASIC has succeeded in its appeal over breaches of consumer credit provisions by short-term lenders Cigno and BHF Solutions.

Suncorp confirms ‘review’ of banking operations

The group has confirmed that it is currently reviewing “strategic alternatives” for its banking operations, following media reports that it is considering a sale.

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