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The strategic plan for payments will provide wider access to the system, as a way of promoting competition and innovation, and lowering costs, a Treasury consultation paper says. read more

Of all the reforms to financial sector regulation in the wake of the Hayne royal commission, the one that made the biggest impact in 2022 was the Design and Distribution Obligation, which gives ASIC p.. read more

The Financial Sector Reform Bill 2022 received Royal Assent on Monday, giving payday lenders and consumer leasing companies six months to get ready before a range of changes to their sectors take effe.. read more

Shared equity mortgages, as a solution to Australia’s housing affordability problem, have been talked about for years, but apart from a few failed commercial attempts it has been left to governments t.. read more

The Treasurer has released a consultation paper on the design and implementation of climate disclosure requirements for financial reporting. read more

Following “extensive” discussions with two suitors over the past few months, Tyro Payments announced yesterday that it has ended talks, despite a significant improvement in one of the proposals.  read more

The level of financial literacy in Australia declined over the four years to 2020, a new report on the country’s household economic and financial wellbeing has found. read more

The ABA has rejected key recommendations of the review of the Banking Code of Practice designed to tackle banks’ dismissive attitude to the code. read more

Earlypay’s biggest secured creditor, building materials company RevRoof, has gone into administration, leaving the finance company with an outstanding exposure of A$29 million. read more

Home equity finance specialist Household Capital is aiming to establish a one-stop shop for home equity access, with the acquisition of Pension Boost. read more