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Economy

Banks ‘withheld’ information from clients to avoid claims

Customers have accused banks of withholding information from clients to prevent legal claims of misconduct.

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Next decade to be an era of digital disruptors

Companies that embrace digital disruption will dominate investment portfolios in the coming decade, according to fund manager Capital Group.

mortgagebusiness
Weakening sentiment seeping into owner-occupied space

The decline in sentiment among investors has trickled into the owner-occupier space, where housing approvals have fallen to the lowest levels in eight years, according to an ANZ analysis of ...

mortgagebusiness
Major bank fined for ‘unconscionable conduct’

A big four bank has been fined $3.3 million, escaping a $58 million penalty proposed by the corporate regulator.

Major bank fined for ‘unconscionable conduct’
KPMG issues warning on delinquent mortgages

Professional services company KPMG has flagged concerns over a potential surge in mortgage arrears.

KPMG
Conflicts lead to unintentional biased advice, RC hears

Conflicts of interest can significantly influence the type of advice provided to clients, regardless of the adviser’s intention, a professor has told the royal commission.

mortgagebusiness
Major banks back HEM despite RC concerns

Three of the big four banks have expressed support for the Household Expenditure Measure, in response to concerns raised by the financial services royal commission.

Financial services
CBA's mortgage growth slows as profits take a hit

The big four bank has reported “below system” mortgage growth, a rise in home loan arrears and a $150 million drop in its cash profits.

Mortgage house
‘Hawkish’ RBA outlook could signal early rate hike

The Reserve Bank has “surprised” the market with its “upbeat” economic outlook, which could be a “precursor to a rate hike in relatively short order”, according to ANZ Research

mortgagebusiness
Non-banks ‘chipping away’ at major bank share

Initiatives aimed at increasing innovation and competition, particularly from non-bank lenders, are starting to “chip away” at the “entrenched position” of the major banks, new reports have ...

Non-banks ‘chipping away’ at major bank share
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