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The mortgage fund operated by Banksia Securities Limited was probably insolvent some years before the trustees called in the receivers, a report from the receivers shows. read more

Managers of mutual banks and credit unions are pessimistic about the prospects of the sector becoming a "fifth pillar" of the banking industry, a survey by KPMG has found. read more

Credit unions and mutual banks tied to Cuscal are having a hectic week as the changeover to a new payments switch presents a series of challenges. read more

Comparison websites in the financial services sphere have attracted a fresh warning from the corporate regulator. read more

Investors in debentures of Provident Capital can expect a return of between 25 cents and 30 cents in the dollar, receivers PPB Advisory said yesterday. read more

ASIC has questioned the adequacy of the work of external auditors of banks, credit unions and insurers. read more

Westpac is marketing its first asset-backed bond in four years, with plans to refinance a pool of A$750 million in car loans that originated with its St George finance arm. read more

Almost one dollar in 10 of the reported cash profit of Big Four banks over the coming years will never become retained earnings, a new analysis by the equity research team at Citi concludes. read more

Banks will have to report more often on payment processing incidents, as the Reserve Bank of Australia escalates its engagement with the issue. read more

16 Romanian nationals have been arrested after a $30 million credit card scam. But the merchants who let their customers' data be disclosed may never pay a penalty. read more