A new independent KiwiSaver comparison platform that ranks providers with a “social good score” places Westpac’s Cash Fund and Cpp fund at the top of the ‘defensive’ and ‘aggressive’ categories. read more
Financial institutions / Big five & fintech (2,244 items)
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The Hayne royal commission continues to force banks and, in recent days, insurance companies to score own goals – and to do so in the most public of forums, as CBA's insurance arm CommInsure discovered. read more
After its admission that it breached responsible lending laws Westpac should now be preparing for possible civil action by its customers, funders and investors, says a leading plaintiff lawyer. read more
A funding line in the tens of millions may soon be in place for the promotor of a number of class actions against banks and their regulatory authorities, centred on allegedly reckless lending practices of Australian banks over more than two decades. read more
The first two days of this week – days 51 and 52 at the royal commission into misconduct in the banking and financial services industry – have been notable for the absence of life insurance sector witnesses directly associated with one or another of Australia’s major banks. read more
Insurers, including bank-owned life insurers, paid more than A$6 billion in commissions to financial advisers in connection with the sale of life cover issued by these insurers over five years, the financial services royal commission heard yesterday. read more