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The Australian Prudential Regulation Authority will have the scope to greatly increase the levies it applies to financial institutions, following the passage of legislation last week. read more

Instalment payment specialist Splitit has signed an agreement with Mastercard that will allow it to extend its reach by integrating its instalment product into Mastercard’s technology. read more

Australian mutual banks matter enough for them to pop up in Forbes magazine’s World’s Best Banks 2020 Survey. read more

Consumer finance company Wisr has granted COVID-19 loan deferrals on A$10.3 million of loans, representing 6.7 per cent of its portfolio value. read more

Former Commonwealth Bank senior executive Adam Bennett has joined Suncorp, taking on the role of chief information officer. It is the latest in a series of C-suite changes at Suncorp since Steve Johns.. read more

Consumer groups have launched a new attack on the buy now pay later industry, claiming that BNPL providers have facilitated predatory sales practices by solar panel retailers. They are calling for reg.. read more

The Australian Office of Financial Management has approved investment of up to A$90 million from the Structured Finance Support Fund in a Prospa Group warehouse trust. read more

The government has rejected suggestions that its Early Access to Superannuation Scheme is prone to fraud and misuse, and it plans to proceed with the second stage in July without any changes. read more

Slater and Gordon has filed a class action against Commonwealth Bank, alleging that the bank sold consumer credit insurance for credit cards and personal loans that it knew were worthless. read more

Declaring “it’s time to raise the bar in banking professionalism” NAB chief executive Ross McEwan plans to provide education and accreditation for all 34,000 of the bank’s staff. read more