regulation

Encouraging regional areas of Queensland to “grow their own” workforces, the Queensland government’s latest initiative sees opportunities for investment in regional businesses.

Both the corporate and prudential watchdogs have set about slimming down their regulatory burden on industry, but the APRA chair has said it will take time.

Lower inflation and wages growth have meant Australia’s cash rate can move slower than its international counterparts, according to RBA governor Philip Lowe.

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.

Research has found that more than half of Australians intended to use buy now, pay later schemes during the Christmas period.

The corporate regulator confirms six big banks have paid or offered more than $3 billion in compensation to its customers for financial advice-related misconduct.

The scheme devoted to assisting single parents into the housing market has been mostly embraced by women, according to the federal government.

APRA has revoked 86 400 Ltd’s authorised deposit-taking institution licence after the neobank handed it back.

The competition watchdog has watched all banks who have not kept up with its open banking roll out, warning of potential enforcement actions for non-compliance.

Data intermediary and fintech Adatree has become the first principal under the new Consumer Data Right (CDR) access model – allowing it to help other companies access open banking data.

The complaints authority has created seven new positions, including a senior ombudsman for credit, as part of a move to bring in more specialised expertise.

The financial complaints body has recruited a new leader for its compliance and monitoring team.

The Australian Financial Security Authority has recruited a former Austrade acting chief.

Economists from the big four bank believe the RBA will commence hiking the cash rate from September, tipping it will reach 2 per cent by the end of 2023.

Economists from the big four bank expect the Reserve Bank will hold off on raising the cash rate until wage growth accelerates, despite a spurt in inflation.

A new class action lawsuit against the big four bank has cried foul over interest-free credit card contracts.

While its big four rivals expanded their home loan books over February, ANZ’s total slipped by $226 million.

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.

ASIC has commenced a civil lawsuit against ANZ, over failure to provide loan benefits promised with offset transaction accounts or its Breakfree package.

While its big four rivals steadily climbed in December, ANZ’s owner-occupier mortgage portfolio dipped.