Economy

More than $5 million in superannuation has been released to first home buyers under a scheme first announced in the 2017–18 federal budget.

Weaknesses in the government’s proposed open banking implementation plan could spark a “scaremongering” campaign, a fintech has warned.

The chairman of a regional bank has posed further questions about the rise in “shadow banks” driven by regulatory “constraints” imposed on traditional banks.

Property sales rates were higher in Australia’s regional locations than in its capital cities, according to a CoreLogic analysis.

A non-bank lender has reported a profit increase of 10 per cent, driven by 15 per cent loan growth despite slowing credit and housing market conditions.

Personal finance approvals have increased against the backdrop of declining housing, commercial and lease finance approvals, according to the latest ABS data.

The wealth manager has appointed two non-executive directors to its superannuation boards.

Banks could tighten their credit policies further in the wake of the release of the financial services royal commission’s interim report, the Reserve Bank has said.

There has been a significant increase in calls to debt assistance services by seniors this year, including those struggling with their mortgage repayments.

ANZ will be the only major without a banking agreement with Australia Post, after being advised that its contract has been terminated.