Economy

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 ...

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

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.

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

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

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

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”.

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.

Bendigo and Adelaide Bank has announced the appointment of two new members of its leadership team.

Australia’s banking sector has rallied behind the introduction of the New Payments Platform, designed to enable the instant, cross-institutional transfer of funds.