Regulation

The move to scrap responsible lending will undo all the progress made by the industry and would be a drastic step, according to Pepper CEO Mario Rehayem.

The Consumer Data Right rules have been amended to enable more business customers of banks to use it and share their data with accredited data recipients.

The prudential regulator will no longer require banks to retain a minimum level of earnings since the economic outlook has improved, but has warned banks to remain vigilant.

Regional Australia Bank has become the fifth bank in Australia to attain CDR compliance to participate in open banking.

A new framework has been launched to test the cyber resilience of financial institutions.

The Reserve Bank of New Zealand is looking to bring in loan-to-value restrictions on “high-risk lending” from 1 March 2021 to “reduce risks to financial stability”, but the RBA has suggested ...

ADIs are facing scrutiny of their securitisation practices after APRA identified that some have repurchased residential mortgage loans that were subject to repayment deferrals.

Three banks and six senior banking executives have been committed to the Federal Court of Australia for trial on criminal cartel charges.

Civil penalty proceedings have been brought against the major bank for overcharging interest on business overdraft accounts.

The prudential regulator has taken action against Westpac over breaches of liquidity standards, adding that they show weaknesses in the bank’s risk management.