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An extensive list of banking products will be covered by design and distribution obligations that take effect next year, according to new ASIC guidance. read more

The China Banking and Insurance Regulatory Commission has approved the sale of Commonwealth Bank’s 37.5 per cent stake in BoCommLife to MS&AD Insurance Group, the parent of Mitsui Sumitomo Insuran.. read more

The Payment System Board is considering a tweak to the interchange rules that would lower the 15 cents cap that applies to debit card interchange when the fee is expressed in terms of cents. read more

After several months of strong growth, the pace eased in the housing finance market in October. read more

Fraud on payment card transactions fell 15 per cent to A$447 million in the 12 months to June, according to the latest industry figures. read more

Debt buyer Collection House is still trying to finalise its refinancing arrangements, a month after missing the deadline on an extended standstill agreement, and has now advised shareholders it failed.. read more

APRA has found that Westpac breached the prudential standard on liquidity, and ordered the bank to bring in an independent third party to review its compliance with liquidity reporting requirements. I.. read more

The only part of the lending market to show any worthwhile growth this year is the owner-occupier mortgage segment, and it is being dominated by a couple of the big banks and other ADIs. read more

Independent MP Andrew Wilkie introduced a bill yesterday amending the National Consumer Credit Protection Act that is identical to three bills already tabled. read more

The release of the Australian Sustainable Finance Initiative’s roadmap this week marks a significant shift in the way Australian financial institutions are approaching their commitment to sustainabili.. read more