Economy

A non-major bank has reduced its rates for owner-occupiers taking out shorter-term fixed-rate home loans.

The open banking regime is unlikely to spark customer movement away from the major banks into smaller banks and fintechs, according to a mutual bank.

The ACT dwelling market has outperformed the other capital cities during COVID-19, but a delayed downturn may be on the way, according to CoreLogic.

The neobank has partnered with an open banking platform in preparation for the first phase of the consumer data right.

The wealth giant has signalled it could be set to release the findings report from the investigation into the sexual harassment allegations against AMP Capital chief Boe Pahari.

Firefighters Credit Co-operative Ltd has announced plans to merge with one of the largest mutual lenders in Australia.

The risk of personal loan borrowers defaulting has reduced during COVID, a personal loan provider has found, as COVID-19 support mechanisms such as JobKeeper buoy repayments.

Reserve Bank governor Philip Lowe has hit back at claims that the central bank’s stance on negative interest rates is “putting bank profits ahead of jobs”.

Melbourne auction volumes have continued to plummet in the wake of the lockdown and the restrictions on movement in Victoria.

An economist has argued that increasing red tape in lending has forced FHBs out of home ownership.