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ASIC consults on intervention powers, new hearings launched
28 June 2019
ASIC

The corporate watchdog is seeking consultation from banking and finance industry stakeholders regarding its new product intervention powers and has also announced a new set of public ...

CBA to review privacy under OAIC undertaking
28 June 2019
CBA to review privacy under OAIC undertaking

Commonwealth Bank has committed to overhauling its privacy policies and procedures under an enforceable undertaking it has entered into with the Australian Information Commissioner.

The case for not passing on cash rate cuts to mortgage rates
26 June 2019
The case for not passing on cash rate cuts to mortgage rates

This column is going to be a little controversial; however, lenders are well within their rights to keep a portion of future rate cuts up their sleeve.

New player enters non-bank lending space
26 June 2019
Rick Roache

A multinational non-bank lender has commenced operation in Australia in a bid to disrupt the domestic market as it seeks to service unmet demand.

ANZ to be subject to capital model review
25 June 2019
mortgagebusiness

The Reserve Bank of New Zealand has called for two reports from ANZ New Zealand “to provide assurance it is operating in a prudent manner”.

APRA data uncovers ‘surprising’ spike in high-LVR lending
24 June 2019
APRA

The share of new loans approved with an LVR grater than 80 per cent has increased, despite continued tightening in lending standards, according to a new analysis of APRA data.

Westpac backs down on serviceability changes
21 June 2019
Westpac backs down on serviceability changes

The major bank has reversed its decision to ease its mortgage serviceability policy, just hours after confirming it would go ahead with the changes. 

Major bank pre-empts APRA’s home lending reforms
21 June 2019
Loan application

A big four bank has eased its serviceability requirements for low-risk home loan customers, in a move that would provide its credit officers with the power to “override” serviceability ...

NAB makes $2bn lending commitment to tech companies
21 June 2019
NAB

The major bank has pledged $2 billion in funding over five years for emerging technology companies in Australia.

SME finance comparison site secures $1m investment
20 June 2019
SME finance comparison site secures $1m investment

Small business loan marketplace ebroker has received a $1 million investment from Tor Capital, whose head has now become the platform’s chief operating officer.