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Downward fee pressure in the wealth management industry is turning the administration platform market into "a race to the bottom", according to new research on the sector. read more

Law firm Maurice Blackburn has launched a class action against five international banks, claiming they colluded to rig foreign exchange. The firm filed the class action in the Federal Court yesterday,.. read more

Almost 18 months after it gave ASIC an enforceable undertaking over responsible lending failures, consumer leasing company Thorn Australia still has work to do to fix its credit assessment process, di.. read more

Two junior ministers will share responsibility for financial services in Scott Morrison's new government. Michael Sukkar returns as assistant treasurer and also minister for housing, while Jane Hume w.. read more

Small business lenders that lend to industries involved in "questionable activities" need not apply for support from the government's new Australian Business Securitisation Fund. read more

More than a third of people with rewards credit cards are not sure what dollar value they get from their rewards. read more

APRA will consider applying additional capital requirements to larger banks, a minority of whom are roasted - but not named - in a report by the prudential regulator. read more

The mortgage brokering sector is facing a ban on certain forms of commissions, even under Scott Morrison's second-term government. read more

APRA has begun consulting on "possible revisions" to its guidance on mortgage serviceability assessments. read more

Foreign exchange company OFX lost momentum during the year to March, unable to attract new clients during the second half. read more