Simple ASIC rule gets complex 14 March 2018 6:09PM ASIC has extended the sunset date for exemptions to relieve credit providers and lessors from the obligation to provide a written response to a hardship notice from a borrower. read more
Cash no longer king and fading fast 13 March 2018 5:49PM Australian businesses report that 6.6 per cent of all payments in 2017 were made with cash, down 56 per cent from 2012. Point of sale credit card payments have decreased by nearly 20 per cent, while o.. read more
Credit cards and cash cede market share to debit cards 13 March 2018 5:47PM The shift in share between debit and credit has been "profound" over the last ten years, with credit and charge costs declining from a 67 per cent share of value to the current 53 per cent. read more
CBA traders not damned by all messaging 09 March 2018 6:21PM The Federal Court in Melbourne has released another batch of key files and documents in the case being run by ASIC against Commonwealth Bank over allegations the bank used the sheer volume of its trad.. read more
Securitised assets riding the economic cycle upwards 09 March 2018 5:50PM The Australian Bureau of Statistics has reported on the annual and quarterly changes in total asset values of Australian securitisers. In the past quarter, the value of the pool of loans being process.. read more
Ratings agency's first response to CommBank PERLS X launch 08 March 2018 6:03PM S&P Global was quick to react to the PERLS X launch, and stated that it was the rating agency's view that "it is unlikely that the Australian Government's support for CBA and other Australian bank.. read more
Consumers trust traditional banks over 'pure play' fintechs 08 March 2018 6:02PM The implications of an RFi study showing a fall in consumer confidence in 'digital-only' challengers has particular resonance for Australia as it develops its open banking regime. read more
Non-bank lender Chifley Securities 'fills vacuum' 07 March 2018 6:06PM Non-bank finance group, Chifley Securities, said it received loans worth A$1.87 billion for the 2017 calendar year, and stated this set a new record level for the company, funded by a small group of h.. read more
Start-up bidding war for mortgages, not properties 07 March 2018 6:05PM Australian borrowers now have access to an online platform, called Loanbid, where lenders bid against each other to win the borrower's loan. The website has clear potential to commoditise another link.. read more
Regulatory intervention makes us stronger 07 March 2018 5:58PM The major Australian banks' ability to withstand a severe downturn in the housing market and household sector, has been strengthened by regulatory intervention to tighten underwriting standards and bo.. read more