It's been well reported that ANZ suspended seven traders in November 2014 as a result of ASIC's ongoing investigation into misconduct around setting the bank-bill swap rate. Now the AFR is reporting that National Australia Bank has dismissed a trader "for an unrelated breach of its code of conduct" while a NAB spokesperson also said the bank "is co-operating with ASIC as part of its industry-wide investigation". A spokeswoman for Westpac said the lender "along with a number of banks, is continuing to cooperate with an industry-wide investigation by ASIC into trading practices relating to the bank bill swap rate." Under draft rules released by the Reserve Bank, which regulates payments, American Express is for the first time facing caps on the fees it can charge merchants who accept "companion cards" issued by banks, alongside MasterCard and Visa cards linked to the same account. If adopted as proposed, the AFR reports, then the current 1.7 per cent fee would likely more than halve to 0.8 per cent. Amex predicted lowering of competition: a further round of reductions in the benefits offered with credit cards and more surcharges from merchants when they use their cards. Rubik Financial said it expects its profit for the December 2015 half year to be more than 20 per cent greater than prior guidance, in which the company had suggested its underlying EBITDA would be A$2 million. Rubik chief executive Iain Dunstan reconfirmed full year guidance of a 20 per cent rise in underlying EBITDA. "We're very pleased with how the first half results are looking, particularly as the growth is coming from both the banking and the wealth segments of our business," Dunstan said in a statement to the ASX. Several senior relationship heads may exit Westpac Institutional Bank as part of a divisional restructure, the AFR's Street Talk has suggested, building on previous rumours. It has already been revealed that Janie Wittey, who was the managing director of financial institutions, government, health and diversified relationships, and Axel Boye-Moller, head of global transaction services for Asia, will both go as the first part of an overhaul of the institutional division being led by its new chief executive, former CBA executive Lyn Cobley. AFR reports the cost cutting will result in as many as 80 jobs being lost in the 1800 person division, "according to sources".