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ANZ remediation costs have ‘more than doubled’
28 March 2019
ANZ

The major bank has revealed that it has paid over $200 million in remediation to customers over the past few years, eclipsing the remediation costs insured prior to public scrutiny.   

NAB questioned on ‘catastrophic’ fraud oversight
28 March 2019
NAB questioned on ‘catastrophic’ fraud oversight

The CEO of NAB was grilled about how a $40 million fraud case went undetected for years until a bank staff member blew the whistle.

Long-term Macquarie executive to step down
28 March 2019
Long-term Macquarie executive to step down

Macquarie has announced that its head of commodities and global markets and long-term executive committee member will step down from his role and from the committee at the end of this week

APRA clamping down on P2P lending models
27 March 2019
APRA

The prudential regulator has warned that it would take action if ADIs aren’t more diligent in identifying and mitigating risks before entering into funding arrangements with peer-to-peer ...

AMP board member and committee chair to retire
27 March 2019
Geoff Roberts AMP

The wealth firm has announced the impending retirement of a board member at its next annual general meeting.

NAB tightens up on SMSF loans, scraps referrer payments
26 March 2019
NAB tightens up on SMSF loans, scraps referrer payments

A big four bank has announced that it will cease accepting new SMSF commercial applications unless customers meet new criteria and that it will be scrapping payments to introducers later ...

Mortgage lender pulls out of market
25 March 2019
Mortgage lender pulls out of market

Just a year after launching, a mortgage lender specialising in non-resident mortgages is being wound down and will not proceed with any loan applications lodged after 18 March.

LATEST PODCAST: Changes at the lenders continue
25 March 2019
mortgagebusiness

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

‘Systemic’ SMSF lending risks quashed by regulators
25 March 2019
‘Systemic’ SMSF lending risks quashed by regulators

The federal government will not make any changes to limited recourse borrowing arrangements held by SMSFs, after Australia’s leading regulators found that they are “unlikely to pose systemic ...

Suncorp cuts mortgage rates by up to 70bps
22 March 2019
Suncorp

The non-major lender has reduced interest rates across its owner-occupied and investment fixed rate home loan offerings.