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Bank of Queensland has identified errors in its compliance systems that have resulted in customers being overcharged on fees and underpaid interest. It will refund A$34.5 million as a result of the.. read more

A leading consumer lobby has claimed that online payday lenders are not meeting their obligations under the tighter rules that were introduced in March. And the Consumer Action Law Centre has calle.. read more

Pepper Group has made its entry into the Asian financial services market with the acquisition of Evergreen Savings Bank, a South Korean mutual savings bank. read more

Most of the submissions to the new Senate committee inquiry into the performance of the ASIC deal with the mis-selling of investment loans before the GFC. This has people at ASIC and the committee.. read more

Payday lender Cash Converters is entering the prepaid card market, following the signing of a deal with prepaid card provider emerchants. read more

Virgin Money Australia reported its fourth consecutive loss in the 2012/13 financial year. The good news for its new owner, Bank of Queensland, is that there is less red ink than in previous years. read more

Creditors of Lehman Brothers Australia have approved a scheme of arrangement resulting in the recovery of US$45 million and A$3 million from insurance policies held in the United States and Australia. read more

The Australian Securities and Investments Commission has started legal proceedings against GE Money, alleging that the finance company engaged in misleading and deceptive conduct when dealing with i.. read more

Commonwealth Bank customers will soon be able to make contactless payments with their mobile phones. Enhancements to the CommBank app, which will be available over the next few months, will include.. read more

Pepper Australia has raised A$350 million of funding through an issue of non-conforming residential mortgage-backed securities that were priced at the same margin as its previous non-conforming issu.. read more