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ASIC has placed a stop order on a credit-for-rent loan because the lender has not done enough to ensure it would not be used by financially vulnerable consumers. read more

AMP Bank has gone against the trend, missing the opportunity provided by higher interest rates to improve margins in 2022, instead suffering a 24 basis point fall in its net interest margin. read more

Investors appear to have no concerns about the prospects for non-bank mortgage lenders as interest rates continue to rise, this week subscribing for a total of A$3 billion of residential mortgage-back.. read more

Finance costs doubled at Solvar (formerly Money3). read more

Challenger Financial Group hopes to complete the sale of its banking subsidiary to New Zealand’s Heartland Group by the middle of this year and return around A$100 million of excess capital to shareho.. read more

Westpac will offer its credit card customers the option of an interest-free pay-in-four instalment. read more

Like other lenders that have so far released their December half results, IMB Bank says its loan portfolios are performing well, with arrears below average. read more

Personal insolvency numbers are set to return to historical averages over the next couple of years, the Australian Financial Security Authority says. read more

REA Group’s financial services division, which includes the Mortgage Choice broker franchise operation, was hit hard by the slowing mortgage market in the second half of last year, suffering a drop in.. read more

By close of business on Friday 21 lenders had announced changes to their home loan interest rates – all of them passing on the full 25 basis points of the Reserve Bank’s cash rate increase. read more