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CBA to refund customers after scrapping insurance products

Effective immediately, the major bank will end the sale of two of its insurance products and “proactively” refund affected customers.

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Ex-bankers launch online mortgage platform

Former senior bankers from NAB and St George have launched an online platform that allows lenders to bid against each other for the borrower’s loan.

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US investment firm acquires Bluestone APAC business

Private investment firm Cerberus Capital Management, L.P. has acquired specialist lender Bluestone Mortgages Asia Pacific (Aus and NZ) for an undisclosed sum.

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Finance industry facing client ID dilemma

Up to 95 per cent of Australian financial service firms are having difficulty identifying their customers, according to a new report by data consultant GBG.

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NSW Productivity Commission will tackle housing affordability

The NSW government has announced that it is set to launch the state’s first Productivity Commission to ease housing affordability pressures, among other objectives.

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NAB launches green mortgage-backed bond

NAB has arranged a $2 billion residential mortgage-backed security (RMBS) with a $300 million green tranche that meets Climate Bonds Standard criteria.

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Finsure acquires Nationalcorp’s portfolio

Aggregation company Finsure has acquired the portfolio of wholesale mortgage manager Nationalcorp Home Loans, bringing the aggregator’s total book to $30.6 billion.

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HSBC Australia launches ‘lowest rate’ home loan

HSBC Australia has introduced an owner-occupier mortgage with a rate of 3.59 per cent, which it says is the “lowest of all national banks”.

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New product to clear outstanding credit defaults

Creditsimple.com.au has launched a new product to help Aussies clear outstanding defaults at a discount.

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Suncorp launches bank branch of the future

The non-major bank has described its new Discovery Store in Sydney’s Pitt Street Mall as a “unique retail experience” and a first of its kind for financial services in Australia.

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