Latest news and insights on banking and finance in Australia and New Zealand, as delivered in the daily 7am Banking Day email news service (subscribe or take out a free trial).
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Eftpos regulations expected this week
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21 February 2005 12:00amIan Macfarlane, governor of the Reserve Bank of Australia, told the House of Representatives economics committee on Friday that the Payments System Board was likely to publish its draft regulations in relation to Eftpos and debit cards this week. » read more »
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Personal loans displace credit cards
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21 February 2005 12:00amCredit bureau Baycorp Advantage has begun publication of a quarterly series that provides insights into the use of its credit reference database by its customers. » read more »
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Credit bureau monopoly the only real source of profits at Baycorp
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18 February 2005 12:00amCredit reference and debt collection company Baycorp Advantage is resolving the legacies arising from the awkward union of its predecessor companies in Australia and New Zealand three years ago, but the company still really only makes money from its credit bureau monopoly and has plenty of work to do to make a profit from businesses that account for more than a third of its revenue. » read more »
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Positive credit reporting no priority for Baycorp
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18 February 2005 12:00amBaycorp managing director Andrew Want provided an interesting answer to a question from one investor yesterday. The investor asked Want to comment on the reports in the Financial Review and elsewhere earlier this week about the campaign by some finance sector companies into the merits of "positive" credit reporting. » read more »
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ING passes the one million customer mark
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18 February 2005 12:00amING's banking business in Australia must have achieved a milestone of sorts since it ruled off its accounts for last calendar year, and can now claim to have one million customers. » read more »
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ANZ treads water amid NZ mortgage war
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18 February 2005 12:00amANZ National bank yesterday reported a NZ $180 million net profit for the December quarter, in line with its September quarter, even as the bank's total lending rose 3.8 per cent. » read more »
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Plenty of talk on trans-Tasman banking reform
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18 February 2005 12:00amThe finance ministers of Australia and New Zealand yesterday agreed to establish a trans-Tasman council on banking supervision, though whether this bureaucratic creature will lead to any significant shifts in policy toward regulation of banks remains to be seen. » read more »
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Middle market turns tardy on debts
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17 February 2005 12:00amCredit quality in the middle market and the consumer market may be taking a turn for the worse faster than many so far believe. » read more »
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AFR targets Collection House chief
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17 February 2005 12:00amToday's Financial Review publishes an investigation into listed debt collection company Collection House. » read more »
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Baker buys back ATM sales guns
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17 February 2005 12:00amCustomers Limited is pursuing its vision to become a minor force in the merchant or non-bank automatic teller machine market with some speed. The company, which acquired a new management team and investors in the last quarter of 2004, yesterday announced its third purchase of a fleet of automatic teller machines since the company's change of strategy. » read more »
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NAB's patience runs thin with Telstra
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17 February 2005 12:00amNational Australia Bank has been fighting the "no can do" management team at Telstra's business and government division for the past the past three years. This is the Telstra division that provides managed services to corporate customers such as Qantas and Woolworths, in addition to NAB. » read more »
