Latest news (24,242 items)

ACCC opens up draft CDR banking rules

It may take consumers as long as ten days to reach second base in a quest to switch their bank account to a new provider, guidance on the governance of “open banking” reforms shows.Operation of a pilot scheme is scheduled to begin in July, though the enabling legislation may not clear the parliament before the election. read more

Higher, wider bank taxes in sight

A hefty rise or even a widening in the levy on banks’ liabilities may yet be a hot chance for next week’s budget. And definitely following any change in government in May.Josh Frydenberg is under pressure to match the (mostly unannounced) decisions of the Australian Labor opposition to drastically increase bank taxes to support their own spending pledges at the May election. read more

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