NAB's mortgage victims kept waiting for redress 15 March 2018 5:53PM The examination of NAB's executive general manager for broker partnerships by the Royal Commission into banking industry misconduct continued yesterday until lunchtime. Anthony Waldron told the hearin.. read more
Broker cut loose by CBA due to 'low volumes' 15 March 2018 5:49PM The head of a small mortgage broker firm, who had his accreditation with CBA revoked last year, ostensibly due to low volumes of loans being directed to CBA, took to the witness stand at the Royal Com.. read more
NAB 'syndicate' coordinated mortgage fraud 14 March 2018 6:17PM Half a dozen NAB branch managers in western Sydney were part of a gang gaming National Australia Bank's home loan "Introducer program" and they were the chief sponsors of widespread and long running m.. read more
NAB flayed for tardy reporting of internal fraud to ASIC 14 March 2018 6:13PM Counsel assisting the Hayne Royal Commission has been building a case against NAB over its lack of timely disclosure to ASIC, once its forensics team uncovered serious internal loan fraud at several b.. read more
Simple ASIC rule gets complex 14 March 2018 6:09PM ASIC has extended the sunset date for exemptions to relieve credit providers and lessors from the obligation to provide a written response to a hardship notice from a borrower. read more
Cash no longer king and fading fast 13 March 2018 5:49PM Australian businesses report that 6.6 per cent of all payments in 2017 were made with cash, down 56 per cent from 2012. Point of sale credit card payments have decreased by nearly 20 per cent, while o.. read more
Credit cards and cash cede market share to debit cards 13 March 2018 5:47PM The shift in share between debit and credit has been "profound" over the last ten years, with credit and charge costs declining from a 67 per cent share of value to the current 53 per cent. read more
CBA traders not damned by all messaging 09 March 2018 6:21PM The Federal Court in Melbourne has released another batch of key files and documents in the case being run by ASIC against Commonwealth Bank over allegations the bank used the sheer volume of its trad.. read more
Securitised assets riding the economic cycle upwards 09 March 2018 5:50PM The Australian Bureau of Statistics has reported on the annual and quarterly changes in total asset values of Australian securitisers. In the past quarter, the value of the pool of loans being process.. read more
Ratings agency's first response to CommBank PERLS X launch 08 March 2018 6:03PM S&P Global was quick to react to the PERLS X launch, and stated that it was the rating agency's view that "it is unlikely that the Australian Government's support for CBA and other Australian bank.. read more