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Economy

COBA hits out at ‘contradicted’ Murray report

Australia’s customer-owned banking sector has argued that the Financial System Inquiry interim report falls short on competition in banking.

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HSBC reveals third-party plans

HSBC has broken its silence amid speculation that it could re-enter the third-party channel.

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Coles announces JV with GE Capital

Supermarket giant Coles today announced plans to form a joint venture with GE Capital Australia.

mortgagebusiness
ACFS report warns ‘GFC is not over’

A new report by the Australian Centre for Financial Studies has warned of the ‘significant danger’ of a panic in capital markets.

mortgagebusiness
Industry struggles to attract new brokers

With the average age of a mortgage broker now in their fifties, industry leaders are questioning whether the commission-based profession can attract new talent.

mortgagebusiness
Mortgage broking vertical integration 'conflicted', says Murray

The Murray Inquiry has found vertical integration in mortgage broking can create conflicts of interest, hampering competition.

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Murray report flags ‘systemic risk’ of housing

The Murray Inquiry has warned that housing is a potential source of systemic risk for the financial system and the economy, and could erode bank balance sheets and impact new lending.

mortgagebusiness
Unemployment rises to six per cent

Australia’s unemployment rate increased to six per cent in June.

mortgagebusiness
Foreign buyer demand falls in Q2

Foreign buyers were less active in the residential property market in the June quarter following a strong rise in the first quarter of the year.

mortgagebusiness
$500bn opportunity in reverse mortgage market

Half a trillion dollars of home equity is being held by Australians over the age of 65 and is available to be leveraged.

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