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Community First Bank and Illawarra Credit Union are planning to merge, the boards of both ADIs informed their members yesterday. read more

Re-establishing a government owned bank, one with a focus on assuring the supply of financial services in regional areas, is the chief proposal in the report of the Senate’s Rural and Regional Affairs.. read more

The Federal Court has found Cigno Australia Pty Ltd and BSF Solutions Pty Ltd engaged in credit activity without an Australian Credit licence and charged consumers prohibited fees. read more

Bendigo and Adelaide Bank will have consolidated its systems onto one core system by the end of next year. read more

Customer numbers at Bendigo’s Up brand “continue to grow above 25 per cent each year, and deposits are growing even more strongly” management told an Investor Day in Sydney yesterday. read more

Efforts by banks and others to mitigate losses to scams are bearing fruit, with a decrease in scam losses over the March 2024 quarter. read more

Commonwealth Bank of Australia’s Business Bank has agreed to accept pre-sale contracts (up to 10 per cent) secured through property tech platform, Coposit, in residential development projects funded b.. read more

Business conditions will feel recessionary to most businesses that rely on consumer spending, particularly those businesses located in ‘mortgage belt’ areas of our capital cities. read more

Joseph Heck has been appointed as Zip’s new US CEO and will commence in the role in July 2024. read more

Lenders may need to review their credit policies after an ASIC study of handling hardship cases found that overcommitment was the leading cause of hardship. read more