Bendigo and Adelaide Bank (114 items)

Comment: Banks to the ACCC wallets slaughter

A strange episode in modern Australian banking history is near its end, with CBA, NAB and Westpac humiliated - inevitably - by the ACCC over Apple Pay. Apple won hands down on practically every argument over detriments from the oligopoly's try on for a collective bargain and boycott. The ACCC liked only one bank argument on public benefits, but this was nowhere near enough for the banks to prevail.As with the draft decision from 2016, it's California handset and operating system rivalries that matter.Google versus Apple. Android Pay versus Apple Pay.Australian banks never had a hope. Nor are the key decision makers at any of the banks on the verge of taking responsibility for green lighting the boycott scenario. read more

'Harsh' bankruptcy law leaves Great Southern borrowers in limbo

A pair of "Great Southern" borrowers that owed A$1.4 million to Bendigo and Adelaide Bank will linger in bankruptcy years longer than the conventional three years, following a late intervention by the bank. An appeal to the Full Court of the Federal Court of Australia has upheld an earlier decision, an outcome labelled as "the result of an uncritical assimilation in the Bankruptcy Act of personal insolvency agreements with compositions." read more

Inconsistent banks pinned in Apple Pay wrestle

Go jump, Apple has told four banks over their suggested approach to negotiations backed by the threat of a collective boycott of Apple Pay. If only they could jump, an insolent Apple suggests, citing the industry's "ambulatory conduct". The entire legal process by the banks, Apple contends, is bogus and the banks legal analysis misdirected. Moreover, the Australian banks' campaign for a redesign that, Apple says, would result in "a less secure and worse customer experience" is inconceivable to the IT giant. read more

Apple smothers digital wallets

Apple Pay looks a massive flop in Australia, the same as Android Pay. Theorise all you like on the rise and demise of digital wallets, there's scant data to contradict it. Crumbs from CUA and ANZ are on the record, showing ANZ standing tall for Apple. But amid the data void lives speculation of an Australian banking sector defeat of Silicon Valley challengers. The populist story, one of commercial ascendancy and at last allowing bank users to jump on board, may be wide open to Apple. Instead, the American IT company is leaving any data that might back that thesis hidden from view. read more

Pace quickens in business lending

A rebound in the level of business lending may extend into the new year, in light of warm measures on recent and projected demand from the ABS and Veda yesterday. The ABS said the value of commercial finance commitments increased 14.8 per cent over the month of November, to A$48.5 billion. read more

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