Economy

Oct 5 2018

The industry association has expressed support for a draft bill introduced by the federal government designed to reduce barriers to capital raising by mutual banks.

Oct 5 2018

House prices could fall by another 10 per cent and a “crash landing” remains a significant risk in the aftermath of the royal commission, according to AMP’s chief economist.

Oct 4 2018

An incentive program run by a major bank, which rewards bankers with bonuses for achieving home loan sales targets, was a “significant cause” of misconduct involving “collusion” between its ...

Oct 4 2018

Equifax, Australia’s largest consumer credit reporting agency, has been fined $3.5 million for misleading, deceptive and unconscionable conduct.

Oct 4 2018

The regulatory and economic environment could prompt further rises in mortgage rates, despite the prolonged stability of Australia’s official cash rate, according to the CEO of a major ...

Oct 4 2018

Tighter credit conditions have spurred a 13.6 per cent annual decline in dwelling approvals, according to an ANZ analysis of the latest ABS data.

Oct 3 2018

The royal commission failed to detect the “biggest fraudulent or dishonest act or practice” of how banks calculate mortgage interest, a professor and CEO of the ICMA has claimed.

Oct 3 2018

The heads of the banking industry have accepted responsibility for the misconduct levelled at them in the interim royal commission report, with ABA CEO Anna Bligh saying that it was “a day ...

Oct 3 2018

A construction company has paid more than $50,000 in penalties after ASIC raised concerns that it had produced misleading adverts aimed at first home buyers.