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Economy

Banks to fund ASIC mortgage probe

ASIC has revealed that the banks will be footing the bill for the additional funding required to expand its investigations into the mortgage industry, including broker remuneration.

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Bank of Sydney reduces fixed rate

Bank of Sydney has today announced that it has reduced its three-year fixed rate for owner-occupiers.

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Industry to welcome new bank next month

An Australian lender has confirmed it will change its name in May after receiving banking status approval from APRA.

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Banks to foot $121m bill for ASIC

Federal Treasurer Scott Morrison has this morning confirmed how the government will proceed with reported changes to surveillance of the banking and financial system, following speculation ...

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Bendigo and Adelaide Bank recognised for ‘strong’ loan servicing

Standard & Poor’s (S&P) has announced it has affirmed a “strong” ranking for Bendigo and Adelaide Bank as a servicer of prime residential loans.

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WA broker cops permanent ban

A former Perth-based finance broker has been permanently banned from engaging in credit activities and providing financial services.

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Moody’s issues federal budget warning

Treasurer Scott Morrison’s refusal to raise revenues in the federal budget will make it difficult for Australia to balance its budget, amounting to a ‘credit negative’ for Australia, warns ...

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RBA sounds alarm on housing risks

The Reserve Bank of Australia has issued a fresh warning over the “ongoing risk” in the real estate market and called for prudent lending standards.

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Bank slashes mortgage rates

A non-major lender has cut one of its home loan rates for owner-occupiers.

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Major real estate markets to 'slow dramatically'

A new report has predicted that house price growth will slow dramatically in two capital cities over the next few years, putting significant pressure on struggling home owners.

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