COSL warns against credit repair fees 21 March 2014 4:43PM The Credit Ombudsman Service is waging war against credit repair companies, which it says are charging some consumers large fees to deal with issues they could resolve for free themselves. read more
Murray says FSI will create a long-term blueprint for growth 20 March 2014 4:57PM When David Murray delivers the report of the Financial System Inquiry to the Treasurer in November it will be less about regulatory processes and short-term fixes and more about creating a blueprint f.. read more
PPSA amendment eases lease registration requirements 20 March 2014 4:56PM Leases of serial numbered goods of 90 days or more will no longer be deemed to be personal property securities leases, under the terms of a bill to amend the Personal Property Securities Act that was.. read more
Yellow Brick Road in acquisition talks 20 March 2014 4:55PM Financial products distribution company Yellow Brick Road is involved in "exclusive discussions" with three acquisition targets. The unnamed companies are a consumer product rating and lead generation.. read more
Bankers welcome FOFA amendments 20 March 2014 4:54PM The Australian Bankers' Association has welcomed changes to the Future of Financial Advice legislation, which were tabled in Parliament yesterday. It described the exemptions granted to the banking in.. read more
Sinodinos rules a line under consumer credit reform 19 March 2014 5:02PM The government will not proceed with phase two of the national consumer credit reforms. read more
APRA's conservative approach to capital no problem for Basel Committee 19 March 2014 5:00PM Australian bankers hoping for some support from the Basel Committee on Banking Supervision in their fight with the Australian Prudential Regulation Authority over what they argue is APRA's overly cons.. read more
FOS may be inefficient but its decision-making is sound 19 March 2014 4:57PM The board and management of the Financial Ombudsman Service are contemplating a major restructure, after a review of the organisation agreed with its critics that its dispute handling process was inef.. read more
RBA surcharge rules not working 18 March 2014 4:47PM Attempts to rein in excessive merchant surcharging on debit and credit card transactions are not working, according to MasterCard. read more
Macquarie re-enters reverse mortgage market 18 March 2014 4:43PM Macquarie Group has re-entered the reverse mortgage market after an absence of more than five years. Macquarie's banking and financial services division has launched a variable rate reverse mortgage a.. read more