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Regulation

CSLR releases credit intermediary levy costs

Estimates have been released for the first and second levy periods that will fund claims from eligible consumers who have been the victims of financial misconduct.

BNPL to come under credit licensing and RLOs

New legislation for the buy now, pay later industry has been released for consultation, bringing in licensing and responsible lending obligations for the first time.

Banks show over 30% decrease in scam losses

The federal government’s crackdown on scammers has shown a drop in scam-related losses for the financial service industry.

Using super for housing could raise prices by $75k: SMC

First home buyers accessing their super to pay for a house deposit could cause a “huge price hike”, according to the Super Members Council.

Hardship applications have ‘risen materially’, finds CFR

While most households are meeting loan repayments, hardship applications have risen materially, according to the Council of Financial Regulators.

Government to introduce ‘regulatory grid’

The Albanese government will release a biannual ‘regulatory grid’ to help provide a clearer outline of financial regulation and support better compliance planning.

Government finalises FAR rules

The federal government has announced it has finalised the rules in order to support the Financial Accountability Regime’s full operation.

All major banks report resi loan growth: APRA

All major banks recorded mortgage loan book growth in January, as the regulator reveals the latest statistics for ADIs.

Revised tax cuts pass both houses

A broader range of taxpayers are set to receive tax cuts from 1 July, with Labor’s tax cuts bill passing through the Senate.

RBA announces new C-level role

The Reserve Bank has made a key appointment in its executive team, promoting an assistant governor to the newly created role of chief operating officer.

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