Regulation

The Australian Securities & Investments Commission has published a snapshot report into small amount credit lenders’ compliance with DDO obligations.

New legislation has been introduced that expands the Consumer Data Right to enable consumers to instruct lenders to initiate actions, including moving bank products, on their behalf.

Citing the slowing pace of the ABS’ consumer price index (CPI), Hayden Groves has called for the central bank to ease increases ahead of next Tuesday’s (6 December) meeting.

Anna Hughes, South Australia’s Deputy Under Treasurer, has been appointed chief executive of the Australian Office of Financial Management.

Dutch bank ING has agreed to strengthen its anti-money laundering and counter-terrorism financing compliance following an enforceable undertaking.

The Assistant Treasurer addressed the Customer Owned Banking Association on the surge of scams and data breaches seen in Australia.

Buy now, pay later providers could fall under the same regulations as credit cards, as the government pushes new regulation.

Link Administration Holdings Limited has announced the sale of almost 10 per cent of its existing 42.77 per cent shareholding in PEXA Group Limited.

As cashback incentives see clients switching banks, brokers are fed up with fronting the clawback costs.

Following 2014 recommendations that LRBAs should be prohibited, the latest CFR report has massively downgraded their risk — mostly.