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Regulation

Consultation for sweeping payments reforms closes

Public consultation for the federal government’s payment systems reforms to ‘modernise’ the financial system closes on 7 February.

‘We will renovate the Reserve Bank’: Chalmers 

The federal Treasurer has advocated the renovation of the central bank and overhaul of markets in his new essay, “Capitalism after the crises”.

Robodebt royal commission unearths mortgage impact

The royal commission has urged those impacted by ‘Robodebt’ to lodge submissions before the 3 February final deadline.

Call for full BNPL regulation gains more supporters

The Australian Retail Credit Association and the University of Sydney have joined the chorus of those calling for the buy now, pay later sector to be fully regulated.

‘Genuinely hopeful’: Voice will lead to better housing policies

As a referendum on the Voice to Parliament fast approaches, the Australian Unity Bank believes more Indigenous representation in Parliament will lead to better outcomes.

General Commercial and Eden Capital fined $50k each

Home finance providers General Commercial Group Pty Ltd and Eden Capital have both been ordered to pay $50,000 for failing to co-operate with AFCA.

Thousands of FHBs register for NSW shared equity 

The state’s key worker first-home buyers can apply for the NSW government's shared equity homeownership scheme, following its launch.

Lenders back BNPL regulation push

Several lenders, including MONEYME and CBA, have said they believe buy now, pay later products and providers should be regulated.

ASIC commissioner exits for Vanguard Australia role

The regulator’s commissioner, Sean Hughes, will end his term on 3 February 2023, ASIC has announced.

Major cyber attack on a bank would be ‘catastrophic’: Senator

Liberal senator James Paterson has warned financial services institutions to remain vigilant amid a rise in cyber attacks and a greater number of Australians working remotely.

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