Economy

Feb 19 2018

NAB has become the first major bank to begin utilising comprehensive credit reporting (CCR), rolling out the new system for personal loans, credit cards and overdrafts.

Feb 19 2018

If evidence of “mortgage mis-selling and irresponsible lending” is found during the royal commission, the banks could be subject to “very costly” class actions, researchers at an investment ...

Feb 19 2018

ANZ announced that it has finalised the sale of six of its retail and wealth businesses to foreign banks.

Feb 16 2018

The head of the Reserve Bank of Australia doesn’t want the rate of growth of housing costs and debt outstripping income growth as it has over the past five years.

Feb 16 2018

The Productivity Commission believes that mortgage comparison rates are effectively “meaningless” if they don’t incorporate discounts on standard variable rates.

Feb 16 2018

The bill to establish the Australian Financial Complaints Authority has been passed by the federal parliament, creating a “one-stop shop” for dispute resolution.

Feb 15 2018

The Australian government has tabled legislation to establish the Housing Finance and Investment Corporation as part of its housing affordability plan announced in the 2017–18 federal budget

Feb 14 2018

ANZ CEO Shayne Elliott has claimed that there is a royal commission into the banking sector because the industry has “lost touch with the broader community”.

Feb 14 2018

AMP Capital chief economist Shane Oliver has said that Australia’s household debt levels are not as bad as they seem, but a 2 per cent rate rise could leave Australians vulnerable.