Consumer Lending

• Ian Rogers

Interest free offers are never interest free. read more

• Ian Rogers

The ABC has laid its hands on transcripts of lengthy examinations by ASIC of the top executives of short-term credit provider Cigno. read more

• Ian Rogers

Receivables are in decline and bad debts and arrears are climbing at Zip. read more

• Ian Rogers

The net interest margin earned across the totality of all credit card and charge card businesses is a shadow of what it once was. read more

• Ian Rogers

While strange at first glance, the upswing in insolvencies in businesses dependent on mining is a function of broader stress from restrictive monetary policy. The May 2024 Business Risk Index from Cre.. read more

• Ian Rogers

Financial Services Minister, Stephen Jones, yesterday introduced legislation into parliament that will see buy now pay later providers brought under the Credit Act. After a period of angst, the BNPL s.. read more

• John Kavanagh

The Australian Finance Industry Association reported that its members provided close to A$2.5 billion of electric vehicle finance in 2023. read more

• John Kavanagh

Consumers and business are relying more on credit cards to manage payment obligations and overcome uneven cashflow, but they are keeping their account balances under control. read more

• John Kavanagh

The big question the government’s review of Australia’s credit reporting framework will address is whether credit reporting remains of value to lenders in light of the development of financial data sh.. read more

• John Kavanagh

Two-thirds of Australians with retail bank savings accounts have never changed their accounts, despite the opportunity to earn more interest with another product or ADI. read more

• John Kavanagh

The number of margin loan accounts in Australia fell to a record low in the December quarter, relegating what was once a thriving market segment to niche status. read more

• Banking Day staff

CreditorWatch’s latest Business Risk Index reports a 48 per cent increase in B2B trade payment defaults over the 12 months to February read more

• John Kavanagh

Providers of low cost credit contracts, including buy now pay later companies, will have to hold a credit licence and comply with modified responsible lending obligations under proposed changes to the.. read more

• John Kavanagh

Commonwealth Bank chief executive Matt Comyn was caught off guard yesterday when Stockland CEO Tarun Gupta asked him to consider offering a loan that would allow people to buy into land lease developm.. read more

• John Kavanagh

Commonwealth Bank has extended its partnership with Microsoft to further ongoing cyber security initiatives and develop generative AI applications. read more

• John Kavanagh

The Clean Energy Finance Corporation has committed to its latest green funding initiative, investing up to A$50 million in an Angle Auto Finance warehouse that will fund vehicle dealerships that incre.. read more

• Banking Day staff

Westpac has moved its audit business from PwC, its auditor of 50 years, to KPMG.  read more

• John Kavanagh

Spending on credit and charge cards increased ahead of overall household spending over the past year but card users have their consumer debt under control, with balances accruing interest coming down. read more

• John Kavanagh

A court has found that a short-term commercial loan with a compounding interest rate of more than 70 per cent a year was unconscionable - “utterly crushing” for the borrower and far in excess of what.. read more

• John Kavanagh

While the financial services industry waits for Treasury to complete its review of screen scraping, a lender has weighed into the debate saying consumer data available through the Consumer Data Right.. read more