Regulation

The big four bank has been ordered by the Federal Court to pay $18.5 million over fee disclosure statement failures.

Market power is “hurting Australians across many walks of life”, the competition watchdog has said, calling for reforms to “flawed” merger laws.

The corporate regulator has switched its focus from cracking down on banks and lenders in previous years to supporting the financial system and Australia’s economic recovery.

The major bank has bumped up its 2021 house price forecasts and predicted a delay in macroprudential controls due to COVID.

The prudential regulator has implemented eased red tape for banks offering loan deferrals to their customers, stretching out the applicable period after receiving industry feedback.

The commission is calling for submissions on how NAB’s proposed purchase of Citi’s Australian consumer bank would impact competition.

Two Westpac investment businesses have copped a total $10.5 million civil penalty, for failing to act in clients’ best interests.

Calls for stamp duty reform have resurfaced as the government has launched a new inquiry into housing affordability.

The regulator has released final guidance for credit risk management and directed ADIs to focus on credit risk management in the current environment, especially residential mortgage lending

The government has reappointed the data standards chair for the open banking regime, deciding to keep him on for another year and a half.