The customer 8 Westpac defence

Westpac’s “defence” to the landmark anti-money laundering litigation with AUSTRAC is that it barely has one. Many systems and checks failed, including second-line and third-line defences. read more

Deadpan ME had 5 months

  Steering questions off to notice, with plenty of ‘I’m not sure’ and a bit of ‘you’ll have to ask them’, ME’s Jamie McPhee got the better of the House Economics committee yesterday. read more

CBA volumes hold on

Weekly application volumes trended lower over March, April and May “relative to the peak volumes experienced in February,” Commonwealth Bank said in a trading update yesterday. read more

Anything goes at AFG

A fully underwritten $60 million capital raising by AFG will be used to underpin its own-brand mortgage business, investment in mezzanine funding, IT upgrades or even “market opportunities that AFG mi.. read more

CASU hires CEO from CBA

Local boy returns with mergers on his mind: it’s almost a trend. Now Todd Roberts is the new chief executive of Credit Union SA. He’s from CBA, a business manager trained in state rounds. read more

Stash rate reset

Xinja Bank will bow to the inevitable and lower the interest rate on its Stash savings account to 1.8 per cent, from 2.25 per cent, effective May 11. read more