Class action funders seek more claimants 06 February 2014 5:48PM A key feature of the judgement in the ANZ fees class action case is that late payment fees charged more than six years ago may be claimed and are not barred by the statute of limitations. Financial.. read more
Margins motivated bank on exception fees 06 February 2014 5:44PM ANZ "well knew that the level of exception fees it charged was well above 'cost recovery'," Federal Court judge Justice Michelle Gordon said in concluding the ANZ fees class action case. read more
Plaintiffs' experts preferred by court 06 February 2014 5:43PM Other banks defending class actions over penalty fees will want to take notice of the Federal Court's preference for the expert evidence of the plaintiffs' consultant, Paul Regan, of the Californian.. read more
Property cycle aids Genworth 06 February 2014 5:41PM Rising property prices helped to improve the financial metrics for mortgage insurer Genworth in the final quarter of 2013, with the loss ratio halving over the year. read more
Farm finance review considers rate subsidies 04 February 2014 5:21PM Interest rate subsidies for select farm loans are under consideration as part of a wider review of farm finance schemes by the Australian government. read more
Experienced local vendors preferred for NPP 04 February 2014 5:20PM The process for selecting vendors for the New Payments Platform is chugging along, with the Australian Payments Clearing Association spelling out the pre-qualification method yesterday "to validate.. read more
Savings a struggle for many 03 February 2014 5:15PM Most Australian households have a relatively low stock of cash savings, and thus little scope to deal with an emergency, a periodic analysis by ME Bank, produced by the Economics & Beyond and Ba.. read more
Rural debt default expected by Joyce 03 February 2014 4:53PM A senior federal minister is expecting a significant default on farm sector loans and backing plans for a dedicated rural bank. The Australian reported that Barnaby Joyce, the minister for agricultur.. read more
Banks seek $344 billion in liquidity aid 31 January 2014 5:54PM Australia's largest 35 banks have projected that they will need to tap A$344 billion in "committed liquidity" from the Reserve Bank of Australia to meet new standards that come into force next year. read more
Reliance on wealth management honey pot scrutinised by APRA 31 January 2014 5:50PM The Australian Prudential Regulation Authority's research exercise into the operation of the committed liquidity facility has thrown up an intriguing - and even alarming - issue for the banking indu.. read more