Consumer lending (900 items)

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Briefs: ANZ completes hybrid issue, D&B poaches another executive from Veda, Collection House appoints new directors

ANZ has allocated US$1 billion of ANZ Capital Securities to wholesale investors, with a fixed rate of 6.75 per cent. The new securities will constitute Basel III-compliant additional tier one capital. They are perpetual subordinated contingent convertible securities. read more

Briefs: Asset manager on DirectMoney board, ME limits foreign income repayments, Sareen in charge at ING Direct, and more

Marketplace lender DirectMoney, which has had difficulty raising funds to support its lending operations, has brought an experienced funds management industry executive onto its board. read more

Foreign news: US payday lenders hit by new rules, mobile POS devices, Santander in anti-corruption raid, and more

According to Wall Street Journal columnist Holman Jenkins Jr., the Consumer Financial Protection Bureau's requirement for payday lenders to run full credit checks on prospective borrowers (average loan US$392) to test sources of income, need for the loan, and ability to re-pay it will – perversely – make it "hard or impossible" to serve those customers who borrow when necessary but then promptly repay. read more

Banks are 'toast' unless they innovate, says Narev

Hedge funds cajoling peer-to-peer lenders into challengers made a long list of threats to traditional banks enumerated by Commonwealth Bank chief executive Ian Narev in a speech last week. read more

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