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Inaugural loan approved through CDR regime

A NAB-backed fintech has helped facilitate the first loan approval under the new open banking regime.

Inaugural loan approved through CDR regime
More housing stimulus on the way: Morgan Stanley

The federal government is expected to address mounting headwinds in the residential property market with a new round of housing stimulus.

More housing stimulus on the way: Morgan Stanley
Open banking benefits reduced under current rules, warns fintech

Fintech company Moneytree is urging the ACCC and Treasury to “reconsider” the draft rules around consumer data right data disclosures to intermediaries to prevent “unintended” consequences

Open banking benefits reduced under current rules, warns fintech
Plunge in building approvals ‘only the start’

The COVID-19 crisis has triggered the first monthly plunge in housing approvals, which are expected to continue falling through.

building approvals
Societe Generale pleads guilty to client money offences

The financial institution has admitted to breaching its licensing obligations after it deposited client funds in unauthorised deposit accounts.

pleads guilty
‘Watershed’ open banking regime commences

The banking sector has welcomed the official launch of the new open banking regime.

‘Watershed’ open banking regime commences
Half of Aussie mortgagors don’t have a will

Nearly half of all mortgagors do not have a will, despite the purchase of property being a major trigger to organising one, according to new research.

mortgage will
Suncorp Bank appoints new CEO

The non-major lender has announced the appointment of a Commonwealth Bank executive as its new CEO.

Suncorp Bank appoints new CEO
Government, banks mull action on loan deferrals

The federal government has held talks with the heads of Australia’s major banks to discuss an “orderly transition” for borrowers on repayment holidays.

Government, banks mull action on loan deferrals
Court weighs in on benchmarks, ‘belt tightening’

Westpac’s use of expense benchmarks for serviceability assessments was “far from intuitively odd”, a Federal Court Justice has said in his reasons for dismissing ASIC’s responsible lending ...

Court weighs in on benchmarks, ‘belt tightening’
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