SAI Global has concluded the process it started five months ago when it was approached by a suitor without doing a deal. The board said it could not recommend a transaction that would be in the interests of shareholders. SAI Global, whose business include mortgage processing services, was approached by Pacific Equity Partners with an "indicative, incomplete, conditional and non-binding proposal". Subsequently it received other similar offers for some or all of the company. The board's top priority now is to find a new chief executive. Bankwest has agreed to drop a A$15 fee for cancelling direct debit payments, after complaints by consumer groups. The Consumer Action Law Centre said in a media release that it was concerned about the fee because it was important for low income earners to be able to cancel a direct debit quickly and simply. Consumer Action said it could not find any other bank or mutual that charged such a fee. ING Direct is planning the launch of a new range of consumer finance and business lending products, according to the Australian Financial Review. The bank has a small presence in business banking and can see opportunities there, as well as in consumer finance. Over the past year it has been cleaning up its mortgage portfolio, selling about A$3 billion of loans originated by third parties. National Australia Bank is preparing to sell its life insurance business, according to an AFR report. The rumoured sale is said to be part of a plan by new chief executive Andrew Thorburn to offload underperforming assets. The broader MLC wealth business is not for sale, according to the report.