Lender

The competition watchdog has issued its first infringement notice to a lender for allegedly failing to meet consumer data right obligations.

Bendigo and Adelaide Bank Limited has agreed to acquire the major bank’s share investment lending portfolio, for its margin lending business.

Several lenders have announced interest rate rises on mortgage and savings rates, following the central bank’s decision to raise the cash rate by 50 bps.

Islamic Bank Australia has been granted a restricted banking licence from APRA.

In a move partly focused on guiding its approach towards diversity and inclusion, the non-bank has appointed Dr Jane Watts to its board.

The banking group has confirmed it will be closing branches under the Westpac, Bank of Melbourne or St.George brands in more than 20 locations.

From Friday (1 July), 40,000 new places have become available under the federal government’s schemes to help Australians buy their own home.

The prudential regulator has revoked Citigroup Pty Limited’s banking licence following the completion of its sale to NAB.

Less than five months after its business and agribusiness divisions were joined, the banking group has appointed the conglomerate’s first leader.

Neo-lender Volt Bank is handing back customer deposits and will exit the banking industry, it has been revealed.