Economy

A former employee of two major banks reveals why he believes the big four and AMP have found themselves in the witness box of a national inquiry.

The federal government has reached an agreement with the Northern Territory government that is set to boost funding for remote housing by $550 million.

The chairman of a non-major lender has stepped down from the board just one week after the bank lost its CEO following the release of evidence regarding misconduct within the group.

AMP Chairman Catherine Brenner has stepped down from the board.

Counsel assisting the royal commission has advised that criminal prosecution against AMP be initiated following evidence of misconduct.

Three separate law firms are seeking to bring class action suits against AMP on behalf of its shareholders following revelations from the royal commission.

Borrowers approaching the expiry of their interest-only home loans period could be required to fork out an additional $7,000 a year, according to the Reserve Bank.

Heritage Bank has appointed current senior executive Kevin Potter to fill the vacancy left by the retirement of long-serving head of retail Paul Francis.

Mortgage lender Better Choice Home Loans has continued its national expansion with the announcement of two key appointments to its sales team.

Morningstar has flagged vertical integration as a potential issue for banks as the royal commission continues to find “very disturbing” evidence of misconduct among financial services ...