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Whether ‘racist’ or reasonable, ASIC’s final stop order preventing Urban Rampage from signing up customers to Centrepay credit arrangements is a landmark use of its Design and Distribution Obligation.. read more

Macquarie Group’s banking and financial services division is getting out of the vehicle finance market, saying it is focusing its attention on “delivering market-leading digital experiences in its cor.. read more

Auswide Bank’s new chief executive Doug Snell had his first day on the job yesterday. read more

Macquarie Bank has been fined $10 million for failing to have effective controls on customer cash management accounts to detect and prevent unauthorised fee transactions conducted by third parties. read more

The Financial Counselling Industry Fund, which will administer industry contributions to the financial counselling sector, has opened for business with $33 million of commitments in its kitty. read more

Viki Carter has stepped in as interim chair of Bendigo and Adelaide Bank. read more

Business entering external administration reached 7,742 during the first nine months of the financial year and are on track to reach 10,000 by June 30 – a level not seen for more than 10 years. read more

A key driver of the fall in banks’ net interest margins over the past couple of years has been the 60 basis point decline in the spread between lending rates and funding costs. read more

Lenders increased rates on outstanding mortgages by a total of 320 basis points between May 2022 and December 2023, which was 105 bps less than the increase in the cash rate over that period. read more

Rising dwelling values and interest rates in the second half of 2023 pushed the share of income needed to service a new home loan to a record high, and a new report says there is little prospect of th.. read more