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Economy

EUs generally effective in deterring misconduct: UNSW study

Enforceable undertakings are generally effective in deterring financial sector misconduct, but there are also areas of improvement, according to a study commissioned by ASIC.

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ACCC chair reappointed until 2022

The federal government has announced that the ACCC’s Rod Sims will maintain his chairmanship for another four years.

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Lack of competition contributed to ‘crisis’ in financial sector

One of the “fundamental causes” of the “current crisis” in the financial sector is the “lack of competition”, which created a culture in which the major banks placed greater focus on ...

Lack of competition contributed to ‘crisis’ in financial sector
Aussie mortgage literacy declining

Borrowers are now less familiar with mortgage terminology than they were last year, according to new research from Gateway Bank.

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RBA seeks feedback on New Payments Platform

The Reserve Bank is seeking public input on the functionality of the New Payments Platform launched in February.

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Deloitte research paints dim picture of trust in banks

One in five Australians believe that banks do what is “good, right and fair”, according to new research from Deloitte.

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Feds finalise $250m funding boost for Victorian housing

Treasurer Josh Frydenberg has announced that the federal government has finalised an agreement designed to provide a total of $2 billion in funding for housing and homelessness services in ...

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AMP Bank cuts fees for ‘simplicity’

The bank has announced that it is removing or reducing 20 fees across its deposit and lending products.

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Banking scandals ‘biggest wake-up call in corporate history’: Labor

Labor leader Bill Shorten has called on the government to extend the financial services royal commission, stating that the banking scandals were “the biggest wake-up call that we’ve seen in ...

Banking scandals ‘biggest wake-up call in corporate history’: Labor
CGT hike counterintuitive to housing affordability: HIA

Increasing capital gains tax on rental homes will ultimately drive up house prices and “exacerbate” the nation’s affordability challenge, the Housing Industry Association has warned.

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