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Regulation

‘Westpac has fallen short’, says CEO

The major bank’s chief has apologised to customers, admitting far-reaching systemic issues led to each of the six matters presented in new civil lawsuits.

‘Westpac has fallen short’, says CEO
La Trobe to pay $750k penalty for ‘misleading’ marketing

The Federal Court has ordered La Trobe Financial Asset Management to pay a $750,000 penalty for “false and misleading marketing” of the La Trobe Australian Credit Fund (the Fund).

La Trobe to pay $750k penalty for ‘misleading’ marketing
ANZ sued over home loan introducer program

ASIC has slapped the big four bank with a lawsuit claiming it breached the Credit Act, over referrals through its home loan “introducer program” and from unlicensed individuals.

ANZ sued over home loan introducer program
Westpac slammed by RBNZ, independent review

A Reserve Bank of New Zealand-ordered report into Westpac’s local arm has flagged shortcomings in its board’s risk oversight.

Westpac slammed by RBNZ, independent review
NAB clears competition review for Citi acquisition

The ACCC has decided the $1.2 billion purchase of Citigroup’s Australian consumer business will not dampen competition among local banks.

NAB clears competition review for Citi acquisition
P&N Group granted access to open banking data

The customer-owned financial institution has become the third of its kind to be named an accredited data recipient.

P&N Group granted access to open banking data
RBNZ eyes DTI, serviceability limits

The Reserve Bank of New Zealand has sought feedback on debt serviceability restrictions for mortgage lending, preparing to deploy them if needed.

RBNZ eyes DTI, serviceability limits
House price growth 3rd fastest in Aus history: REA

An analysis has found Australian house prices have grown at the third-highest rate since 1880, as big four economists have tipped they will hit their peak next year.

House price growth 3rd fastest in Aus history: REA
AUSTRAC unveils guide addressing tech-based abuse

A new supplement designed to raise awareness and action over technology-facilitated financial abuse has been released by the government agency.

AUSTRAC unveils guide addressing tech-based abuse
Regional bank branch taskforce opens consultation

The government has invited the public to weigh in on the impacts of a 24 per cent fall in regional bank branches over the last four years.

Regional bank branch taskforce opens consultation
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