New payment security standards released 12 November 2013 5:39PM Merchants and payment card issuers are to make payment security more of an ongoing element in their risk management, following the Payment Card Industry Security Standards Council's release of revis.. read more
Housing finance activity resumes its upward trend 12 November 2013 5:38PM After an unexpected drop in August, housing finance activity was up strongly in September. Housing finance data published by the Australian Bureau of Statistics yesterday shows the biggest month-on-.. read more
Comment: CCAAC fails to make appropriate surcharging recommendations 11 November 2013 5:54PM The Commonwealth Consumer Affairs Advisory Council has delivered a weak report on credit card surcharging, failing to make the one recommendation that almost every submission to its Inquiry urged it.. read more
Suncorp Bank CEO moves on 08 November 2013 5:40PM Suncorp Bank chief executive David Foster is to leave the bank after 10 years. The group's chief financial officer, John Nesbitt, will take over as head of the bank. read more
Shift to mutual bank status boosts returns for Teachers 08 November 2013 5:38PM Teachers Mutual Bank has achieved some tangible benefits from its decision to become a mutual bank. Strong growth in wholesale deposits during the 2012/13 financial year helped the bank improve its.. read more
Liberty prices auto ABS 08 November 2013 5:33PM Liberty Financial has raised A$150 million of funding through an issue of asset-backed securities. Liberty Series 2013-1 Auto, which is the group's seventh auto ABS, is backed by a portfolio of moto.. read more
Fraud detection systems not up to scratch 08 November 2013 5:33PM Financial institutions need to improve their systems for detecting internal fraud. A review of employee fraud in Australian financial institutions over the past decade found that a large proportion.. read more
Government softens its stance on OBUs 07 November 2013 5:19PM Among the raft of tax measures the Treasurer announced yesterday there was some welcome news for bankers. The Government will amend the treatment of offshore banking units outlined by the previous L.. read more
CBA says new lending is up, but so are repayments 07 November 2013 5:15PM Lower interest rates supported strong growth in new lending activity during the September quarter, but this was offset by a higher level of loan repayments, Commonwealth Bank reported in its Septemb.. read more
Fixed mortgage rates on the way up 06 November 2013 5:55PM There won't be any change to variable mortgage rates this month, following the Reserve Bank's decision yesterday to leave the cash rate unchanged at 2.5 per cent, but fixed rates are a different sto.. read more