Westpac has provided around A$11.3 million in remediation to about 3,400 credit card customers, following a 2014 review by ASIC of credit card providers' invitations to customers to increase limits. read more
Financial institutions / Big five & fintech (1,770 items)
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As investment experts squabble over the triggers for the sharp slide in global equity markets this month, business strategists at local banks will be attuned to the political scenarios that could flow later this year from the spike in global bond yields. read more
A windfall tax break and a higher-than-expected profit forecast did little to protect Macquarie Group from the ravages of the ASX market rout on Tuesday. read more
In the federal court, Westpac is arguing it was under no obligation to act in the best interests of clients under the Future of Financial Advice laws because it was selling its super products rather than providing personal advice. read more
ASIC has asserted in Federal Court that Westpac and its wealth division BT used bonuses and highly sophisticated sales techniques to convince customers to roll over superannuation into Westpac accounts. read more
APRA's progress report on its prudential inquiry into CBA will disappoint those looking for a juicy read, with the regulator reserving its substantive findings and recommendations for the final report, due by 30 April 2018. read more