Briefs: Westpac IT problem stops it changing investor loan rates, NAB raises interest-only loan rate

Westpac's computer system will not allow it to charge different interest rates on mortgages for owner-occupiers and and investors, according to Fairfax Media. The IT problem is costing the bank an estimated A$1 million a day.
National Australia Bank will increase variable interest rates on interest-only mortgages and line of credit facilities by 29 basis points. The bank said in a statement that its move was in response to industry concerns about the pace of growth in investor lending.
McDonalds chief restaurant officer for Asia Pacific, Middle East and Africa, Catriona Noble, has jumped ship to join ANZ, where she will take on the role of managing director retail distribution Australia. Noble was chief executive of McDonalds Australia between 2010 and 2014. In her new job she will be tasked with attracting new customers, deepening relationships with existing customers and improving customer satisfaction.
Finance broker Stratton Finance has signed an agreement to acquire 75 per cent of finance broker All About Finance. Stratton's business is focused on automotive, property, business equipment and commercial finance, while All About Finance operates in the marine, outdoor and leisure markets. Stratton employs about 200 people and originates 10,000 transactions a year. All About Finance acts as retail finance provider for around 100 leisure product dealers.