113

Bank-owned superannuation funds forked out $124 million in refunds and compensation between 2003 and 2017, the banking royal commission heard yesterday. read more

The funding cost advantage of the major banks may have reduced, but banks "should pay for any support they receive from taxpayers via the government .. as this simply reflects commercial reality" a la.. read more

There's little wanderlust around fintechs and much cynicism about the state of play in this much hyped industry sector, this week's assessment of competition in finance from the Productivity Commissio.. read more

The conflicted business models of a catalogue of comparison websites drew fire last week from the Productivity Commission in its report on Competition in the Australian Financial System. read more

The "Four Pillars" protection racket for Australia's biggest banks looks like it may be soon be history, paving the way toward agreed or mildly hostile offers to rearrange the inefficient, high cost.. read more

APRA, the chief banking regulator in Australia, is being guided to a period of introspection over its approach to prudential supervision of the banking industry. read more

Trail commissions "should be banned" but upfront commissions will survive, and these reforms "must be implemented by all lenders without further delay," an aggravated Productivity Commission demands. read more

Obliged by convention to spruik a defiantly reformist report on the finance industry from the Productivity Commission at a business lunch today, treasurer Scott Morrison ignored the most compelling.. read more

ING Bank (Australia) Ltd - trading as ING Direct - has set up its first mortgage covered bond facility, giving it the capacity to raise up to A$1 billion in its first transaction. Comments from analys.. read more

Customers are not being supplied with the right information to make choices about switching banks, the Productivity Commission's final report into competition in the Australian financial system conclu.. read more