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AUSTRAC and CBA begin mediation

The major bank and the government financial intelligence agency have begun discussions on the major bank’s alleged breaches of anti-money laundering and counter-terrorism laws.

mortgagebusiness
CBA’s ‘Project Magellan’ probed by RC

The Commonwealth Bank’s risk strategy following its acquisition of Bankwest has been placed under the spotlight, as the financial services royal commission continues.

CBA’s ‘Project Magellan’ probed by RC
LATEST PODCAST: Small business lending misconduct, risks and Prospa

The Mortgage Business Uncut podcast is your weekly analysis of the biggest themes shaping the Australian mortgages market.

LATEST PODCAST: Small business lending misconduct, risks and Prospa
CBA grilled over interest rate charges

The major bank has been scrutinised by the financial services royal commission over its response to a technical error that more than doubled the amount of interest charged to customers.

CBA
Lending curbs to see average Sydney deposit hit $369,542

APRA’s latest effort to control the mortgage market will force the average Sydneysider to fork out a $369,542 deposit for a median-priced house in their hometown.

mortgagebusiness
P2P lender extends green loans program

A “strong launch period” has prompted a peer-to-peer lender to extend its green loans program by 18 months.

Money, dollar sign
‘No idea’: Westpac loan process destroyed by RC

The major bank’s approval of a $160,000 business loan guaranteed by an elderly blind woman has been grilled by the royal commission.

Westpac
CBA ‘clawback’ conspiracy theories quashed

The royal commission has addressed CBA’s takeover of Bankwest during the GFC, including the many “ulterior motive theories” that have plagued the deal since 2008.

mortgagebusiness
Westpac creates new role to oversee customer relations

The major bank has named its appointment for the newly created role of group executive for customer and corporate relations.

mortgagebusiness
ASIC commences ethics compliance consultation

The corporate regulator has issued a consultation paper on its proposed approach to approving and overseeing compliance schemes for financial advisers.

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