Economy

A massive class action lawsuit is being planned on behalf of “Australian bank customers that have entered into mortgage finance agreements with banks since 2012”.

The mortgage brokerage’s share price has increased by more than 10 per cent since IHA Group lodged a substantial shareholder notice on Friday, 25 May.

US President Donald Trump signed a bill last week that will ease banking regulations implemented by the Obama administration following the global financial crisis.

Australia’s premium housing market has softened more than its more affordable segment, according to the latest CoreLogic Decile Report.

Global ratings agency Moody’s has joined a chorus of analysts forecasting tighter mortgage policies as a result of the royal commission’s intense scrutiny of bank lending.

Reserve Bank of Australia governor Philip Lowe has warned that China’s “highly indebted economy” poses a threat to prosperity in Australia.

The ratings agency has warned that a further tightening in lending standards could limit borrowers’ ability to reduce financial stress by refinancing their home loan.

Justice Beach of the Federal Court today found that a major lender engaged in unconscionable conduct under s12CC of the Australian Securities and Investments Commission Act 2001 (Cth) by its ...

The major bank has conceded to the royal commission that there were a “number of errors” in an “unacceptable” loan application it approved.  

The major bank has announced that it will be offloading its stake in a Chinese bank’s life insurance business to boost its capital position.