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ASIC is set to lift restrictions on the operations of Revolut’s Australian electronic money business after issuing a local financial services licence to the controversial UK-based company. read more

Westpac is about to slam the brakes on home lending after it tightened credit policies to curtail lending to borrowers heavily exposed to the impact of the economic lockdown. read more

Australia’s fifth largest merchant acquirer, Tyro, is continuing to sign new SME customers despite the interruption to normal business caused by the Covid-19 health crisis. read more

ME Bank has been forced to stump up cash incentives to hold on to angry borrowers affected by the controversial changes to redraw facilities announced last month. read more

The customer relations crisis now engulfing Members Equity Bank is exposing much more than a breakdown in communication with home borrowers – it is also opening a window to a crude and inadequate appr.. read more

Members’ Equity Bank last night denied it might have broken its own contractual terms and conditions by giving late notice to borrowers of controversial changes to mortgage redraw limits. read more

Advocacy groups have complimented regulators and the banking industry for taking steps to fast-track the issuance of debit cards to holders of passbook accounts marooned by the Covid-19 lockdown. read more

The adequacy of major bank provisioning has emerged as an industry talking point after leading bank analysts questioned National Australia Bank’s modelling of probable credit losses due to the lockdow.. read more

The good news emanating from NAB’s headquarters in Melbourne is that the bank has agreed on terms with the Finance Sector Union for a new enterprise agreement. However, there is bad news as well. read more

One of the first questions put to NAB’s new boss Ross McEwan at the precipitous interim profit briefing of investment analysts on Monday was whether his shareholders could expect a damaging legal clai.. read more