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The government is considering increasing the bankruptcy threshold and increasing the period for a debtor to respond to a bankruptcy notice, as part of a set of proposals for personal insolvency reform.. read more

Westpac says a technology error was the cause of its failure to respond to customers’ hardship notices within the time required by law. read more

The government’s financial accountability reform bill was passed in the Senate yesterday, extending executive accountability rules beyond banks to include the superannuation and insurance industries. read more

An amendment to the Anti-Money Laundering and Counter-Terrorism Financing Act, which was passed in the Senate on Monday, strengthens AUSTRAC’s ability to use infringement notices as part of its enforc.. read more

After withdrawing from the US market in the December half of the year, fintech Douugh turned its attention to the rollout of its product in Australia. It hasn’t fared any better in the local market. read more

With the cash rate on hold for the past two months and the inflation rate falling, deposit takers have started to look forward to lower rates and are trimming term deposit rates. read more

Pepper Money continues to look for diversification opportunities to offset difficult conditions in the Australian mortgage market, announcing on Friday that it will buy HSBC Bank’s New Zealand mortgag.. read more

Consumer lender MoneyMe has failed to capitalise on its acquisition of SocietyOne last year, with much of the increase in its loan book running off as it grappled with a blowout in bad debts and a pro.. read more

The financial counselling sector has received its first round of funding under a new industry funding model, reporting contributions of around A$9.6 million from companies and industry bodies. read more

Lender Prospa Group wrote off close to 10 per cent of the value of its loan book as bad debts in the year to June, as tougher economic conditions impacted its small business customers. read more