Former chief executive of the Consumer Action Law Centre, Gerard Brody, has joined the board of the Australian Financial Complaints Authority. His appointment is for three years. Brody was CALC CEO for 10 years. He has been on the board of the Energy & Water Ombudsman Victoria since 2014, the board of the Telecommunications Industry Ombudsman since 2022 and the board of Community Legal Centres Australia since 2021. He is chair of the Consumer Federation of Australia. He replaces Elissa Freeman, who served nine years on the Financial Ombudsman Service board and then the AFCA board, when it replaced FOS in 2018. Auckland-based personal lender Harmoney has shifted the balance of its business, with more than half of its loan portfolio in Australia for the first time. The company reported that its loan book grew 42 per cent in the March 2023 quarter (compared with the previous corresponding period) to A$728 million. Australian lending makes up 51 per cent of the total. The company has a consumer-direct model and an automated loan approval system. Arrears remained low at 52 basis points for loans 90 days or more past due. The RBNZ has reprimanded ANZ New Zealand for failing to report certain international wire transfers within the timeframe required under AML/CTF legislation, but will impose no penalties upon the bank. ANZ self-reported the breaches, which happened between April 2019 and September 2021. Rather than imposing penalties, the regulator is placing extra reporting obligations on the bank. “ANZ’s response to the reporting failures is an example of the prompt remediation and timely and proactive engagement with the Reserve Bank that is expected from all reporting entities,” said enforcement & resolution director Kerry Beaumont. Mastercard announced that from 2028 all newly issued payment cards will be made of sustainable materials, including recycled or bio-sourced plastics. It said the initiative will be endorsed through a certification program and the cards will carry a Card Eco Certification mark. Consumers around the world hold around three billion Mastercard cards. The company said it is also working on digital-first programs that will eventually eliminate physical cards.