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ASIC has taken action against Thorn Group's Radio Rentals, with an agreement for A$20 million in customer refunds and loan write-offs for poor appliance rental outcomes. read more

ASIC has released a progress report on the Commonwealth Bank's commitment to identifying and compensating customers who suffered losses due to incorrect or self-serving financial planning advice. read more

The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has effectively opened for business, almost two months after its draft terms were announced by the P.. read more

Australia's banks continue to experiment with their own new payments systems. Westpac's iMessage, which allows customers to pay by text, is the most recent example. read more

The publication of a Supplementary Final Report to the "Review of the financial system external dispute resolution and complaints framework", chaired by Professor Ian Ramsay makes 11 recommendations,.. read more

Fitch Ratings has assigned Auswide Bank Ltd a long-term foreign-currency issuer default rating of BBB+ with a stable outlook, as it works to decrease its reliance on depositor funding. read more

New Zealand's Overseas Investment Office has declined HNA Group's application to acquire ANZ NZ subsidiary UDC Finance. read more

Earlier this week, the Australian Bankers Association let it be known that it has sent a completely rewritten Banking Code of Practice to ASIC for review. read more

The Australian Bankers Association's revised Code of Banking Practice, announced in stages during the past week, takes a greater interest in the rights of customers, but does not go far enough, accord.. read more

Australians' household wealth has been steadily increasing over the past decade, rising almost half a percentage point (0.5 per cent) in the previous quarter. read more