Credit Union (181 items)

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Briefs: Ramsay EDR review done, Walter on advice watch, Medcraft digs bank crowd challenge and more

A panel headed by Professor Ian Ramsay into external dispute resolution schemes, including the Financial Ombudsman Service, the Superannuation Complaints Tribunal and the Credit and Investments Ombudsman, has handed its final report to the Australian government.Andt he Australian government has appointed Cathy Walter (pictured) as the chair of a new body set up to "professionalise" the financial advice sector. read more

Comment: Banks to the ACCC wallets slaughter

A strange episode in modern Australian banking history is near its end, with CBA, NAB and Westpac humiliated - inevitably - by the ACCC over Apple Pay. Apple won hands down on practically every argument over detriments from the oligopoly's try on for a collective bargain and boycott. The ACCC liked only one bank argument on public benefits, but this was nowhere near enough for the banks to prevail.As with the draft decision from 2016, it's California handset and operating system rivalries that matter.Google versus Apple. Android Pay versus Apple Pay.Australian banks never had a hope. Nor are the key decision makers at any of the banks on the verge of taking responsibility for green lighting the boycott scenario. read more

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