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Economy

Changes made to Banking Code of Practice

The ACCC has authorised official changes to the ABA’s Banking Code of Practice to better align with recommendations made by commissioner Kenneth Hayne.

mortgagebusiness
RBA still open to more cuts despite growing scrutiny

The central bank remains prepared to cut rates further, despite growing concerns that monetary policy has “lost its potency”.

RBA
ME appoints new COO

The non-major bank has announced that it will welcome a new chief operating officer on 2 December, following the departure of its current COO, Angela Middleton.

ME Bank
In Memoriam: Stephen Edward Lonie 1952-2019

Stephen Edward Lonie, businessman and non-executive director of MyState Bank, has passed away aged 67, following a short illness.

In Memoriam: Stephen Edward Lonie 1952-2019
Westpac embroiled in money laundering allegations

AUSTRAC is seeking civil penalty orders against a big four bank over 23 million alleged breaches of anti money-laundering laws. 

Westpac embroiled in money laundering allegations
Prospa loan originations outpace forecasts

The SME lender has announced that its loan originations have exceeded prospectus forecast figures, but revenue figures are set to miss the mark.

Prospa
NHFIC provides $65m loan for affordable housing

The federal government’s new affordable housing finance body has provided a multimillion-dollar loan to a community housing provider to help increase the supply of social and affordable ...

Affordable housing
Delaying home purchase can have consequences

With the bedrock of Australia’s retirement system relying on home ownership, indefinitely delaying buying a home can have negative effects.

Stressed retirees over home purchase
ANZ CEO compensated for own bank’s shortcomings

ANZ chief executive Shayne Elliott has revealed that he was sent three remediation letters from the bank, insisting that the company will refund every single customer it has wronged.

mortgagebusiness
Auction volumes at their second highest

Property research group CoreLogic has found that the week ending 17 November resulted in the second-busiest auction week across the combined capital cities in Australia.

Auction gavel
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