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An internal review highlights the “immature and reactive” nature of Westpac’s non-financial risk culture, with managers tending to react to problems by looking for someone to blame rather than focusin.. read more

Extended loan repayment deferrals could cost the big banks anywhere from A$700 million to $1.1 billion in lost revenue, according to new analysis. read more

Westpac and its subsidiaries face two class actions, after two law firms announced last week that they were filing claims over car finance arrangements. read more

First home buyers are on the lookout for bargain priced houses and many are considering a move out of the capital cities to get into the housing market. read more

Lender Columbus Capital has completed an issue of residential mortgage-backed securities made up entirely of mortgage loans to self-managed superannuation funds – a first for the local securitisation.. read more

The AOFM has released its requirements for access to its Forbearance Special Purpose Vehicle and called for expressions of interest. read more

Buy now pay later provider Zip released a few 2019/20 highlights in an update yesterday, including strong growth in customer and transaction numbers, and a reduction in arrears. read more

Australian households are reining in their non-essential spending and building their savings, according to a new survey. read more

Visa has introduced a new payment service in Australia, Click to Pay, which it says will simplify the online checkout process. read more

American Express has entered the buy now pay later market in Australia, launching a product called Plan It Instalments, which provides for repayment of balances in monthly instalments at zero interest.. read more