Financial institutions / Big five & fintech (1,910 items)

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Aussie late to responsible lending

Aussie Home Loans did not have "a formal … responsible lending policy" until a couple of weeks ago. AHL's chief financial officer Giles Boddy confirmed an account of slipshod compliance culture, frequent fraud and a dash to clean up the broking business' act - or surrender its reputation - while giving evidence to the Royal Commission into banking misconduct on Friday. read more

Royal Commission uncovers link to NAB boardroom

A selection of National Australia Bank's Board members from 2015-2016 may well find themselves fronting the Royal Commission into banking industry misconduct after counsel assisting Rowena Orr was handed newly discovered minutes of a meeting with NAB's chief risk officer and the Board's risk committee, dated 4 November 2015. read more

NAB's mortgage victims kept waiting for redress

The examination of NAB's executive general manager for broker partnerships by the Royal Commission into banking industry misconduct continued yesterday until lunchtime. Anthony Waldron told the hearing that NAB had so far identified 1360 people "potentially impacted" by the dishonest conduct of its staff. read more

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