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Association throws support behind penalised lender

An industry body has rushed to the defence of one of its members after they became a victim of regulatory action by ASIC.

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APRA eliminates 'aggressive lending practices'

APRA chairman Wayne Byres has reaffirmed the prudential regulator’s stance on mortgage lending in a speech before the Senate Economics Legislation Committee in Canberra.

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Suncorp expands mortgage distribution footprint

Suncorp Bank says intermediaries helped the lender see 60 per cent of new home loan business originating outside its local market.

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CBA records 28% rise in bad loans

The Commonwealth Bank’s $4.8 billion profit for the half year to December 2015 has been overshadowed by a $564 million loan impairment expense.

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CBA increasingly reliant on brokers

Australia’s largest mortgage provider is seeing an increasing amount of new business from the third-party channel.

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Penalised lender responds to ASIC action

An Australian lender forced to remove one of its loans from the market has defended the product and stressed that the group does not offer and has never offered ‘payday’ loans.

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Lender penalised for overcharging consumers

An Australian lender has been fined by ASIC for overcharging its clients.

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Genworth profits fall 29% as lending changes hurt LMI demand

Genworth Mortgage Insurance Australia has reported a 29.7 per cent decrease in statutory net profit after tax for the year ended 31 December 2015.

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ANZ raises rates on business loans

ANZ has announced interest rate changes for some of its business lending products as a result of increasing regulatory and funding costs. 

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Vic Supreme Court approves NAB demerger

National Australia Bank’s demerger of its UK subsidiaries has been approved by the Supreme Court of Victoria, following “overwhelming” support from shareholders.

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