Consumer Lending

• John Kavanagh

The number of margin loan accounts in Australia fell to a record low in the December quarter, relegating what was once a thriving market segment to niche status. read more

• Banking Day staff

CreditorWatch’s latest Business Risk Index reports a 48 per cent increase in B2B trade payment defaults over the 12 months to February read more

• John Kavanagh

Providers of low cost credit contracts, including buy now pay later companies, will have to hold a credit licence and comply with modified responsible lending obligations under proposed changes to the.. read more

• John Kavanagh

Commonwealth Bank chief executive Matt Comyn was caught off guard yesterday when Stockland CEO Tarun Gupta asked him to consider offering a loan that would allow people to buy into land lease developm.. read more

• John Kavanagh

Commonwealth Bank has extended its partnership with Microsoft to further ongoing cyber security initiatives and develop generative AI applications. read more

• John Kavanagh

The Clean Energy Finance Corporation has committed to its latest green funding initiative, investing up to A$50 million in an Angle Auto Finance warehouse that will fund vehicle dealerships that incre.. read more

• Banking Day staff

Westpac has moved its audit business from PwC, its auditor of 50 years, to KPMG.  read more

• John Kavanagh

Spending on credit and charge cards increased ahead of overall household spending over the past year but card users have their consumer debt under control, with balances accruing interest coming down. read more

• John Kavanagh

A court has found that a short-term commercial loan with a compounding interest rate of more than 70 per cent a year was unconscionable - “utterly crushing” for the borrower and far in excess of what.. read more

• John Kavanagh

While the financial services industry waits for Treasury to complete its review of screen scraping, a lender has weighed into the debate saying consumer data available through the Consumer Data Right.. read more

• John Kavanagh

Rationalisation of the debt buying and collection market is providing a fillip for those still operating in a sector that has been hit by weak business conditions over the past couple of years. read more

• John Kavanagh

Pay advance company Beforepay is looking to expand, announcing the launch a B2B business that will provide its lending technology and risk models to third parties. read more

• John Kavanagh

The latest home loan pricing data suggest lenders are still jostling to win business. read more

• John Kavanagh

Top rates on longer-dated term deposits came down last month and while there was mix of increases and decreases in at-call rates, some of the cuts were applied to products offering high rates. read more

• John Kavanagh

Attorney-General Mark Dreyfus has marked the 10-year anniversary of the introduction of Australia’s comprehensive consumer credit reporting system by calling for a review of the scheme to see if it re.. read more

• John Kavanagh

After several years of investing in diversification, Australian Finance Group is back playing to its strengths with a focus firmly on its core broker aggregation business. read more

• John Kavanagh

Consumer lender MoneyMe stuck with its focus on higher quality borrowers and secured finance during the December half, helping it reduce credit losses. It has no plans to change that approach. read more

• John Kavanagh

Product development is back on the agenda at a more growth-focused Zip Co, following the company’s success in turning its fortunes around over the past year. read more

• John Kavanagh

Heartland Group’s Australian reverse mortgage book grew strongly in the December half, as an ageing population turned increasingly to equity release to top up retirement incomes.  read more

• John Kavanagh

Personal insolvencies numbers rose in 2023 but are still nowhere near pre-COVID levels, new figures show. read more