Commerce Minister quits NZ cabinet for Westpac

In a hiring decision with the potential to put one of its longest running transaction banking contracts under the spotlight, Westpac has announced the appointment of a cabinet minister as head of it.. read more

Cleanskin MCU board open to options

The new board of Maleny Credit Union will review its strategic plan and remain open to the prospect of a merger with another credit union, the new chair of MCU, Luke Berry, says. read more

CBA and NAB seek term-funding

The comparative lull in bank funding in the term-debt market may be drawing to a close, with Commonwealth Bank and National Australia Bank both marketing term-debt and structured issues yesterday. read more

Penalty-fee politics aired in ANZ court stoush

The rationale for ANZ's cuts to exception fees on a swathe of accounts in late 2009 is the subject of a last-minute skirmish between plaintiffs and the bank in a class action over penalty fees being.. read more

NAB canters along in mortgage market

National Australia Bank continues to report growth on home loans running at twice the level of growth in system credit and consistent with trends since the second quarter of this year. read more

Pay cuts for half of NAB's UK staff

National Australia Bank is seeking to curb its wage bill in the UK by phasing out contributions to the older of its two pension schemes for half the staff working at Clydesdale Bank. The bank's plan.. read more

Empty legal win for Aldi

Aldi Stores will get its costs paid by Eftpos Payments Australia Ltd for its largely empty victory in the Federal Court over media releases sent out by the latter that were more bombastic than misle.. read more