Credit unions and mutual banks lost ground to the major banks in the retail deposits market, according to APRA data for December. read more
Financial institutions / Big five & fintech (1,767 items)
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Select Encompass Credit Union will, from today, join the ranks of ADIs taking up mutual bank branding. read more
Commonwealth Bank is facing another legal battle after ASIC yesterday launched a civil action in the Federal Court, alleging that traders employed by the group rigged rates in the bank bill market. read more
CEO Shayne Elliott has described the litany of misconduct outlined in ANZ's formal submission to the Hayne royal commission as "confronting", and indicated that the lid will be lifted on instances of misconduct not previously revealed to the public. read more
A review by ASIC of financial advice provided by the five biggest vertically integrated financial institutions has identified areas where improvements in the management of conflicts of interest are needed. read more
Acting ASIC chair Peter Kell says that the regulator is working with the major financial institutions to address shortcomings over the quality of financial advice and conflicts of interest. read more