Scams lawsuit sends a message to Australia’s banks
The corporate cop has put the nation's banks on notice after filing a civil case against HSBC Australia over its alleged failure to stop $23 million in scams.
banking
Westpac shareholders question bank’s climate plan
Westpac shareholder activists have questioned bank executives about how its climate change policies will be applied.
Bank’s bungled cash fee a sign of anti-branch shift
Australia's biggest bank has backed down on a threat to charge some customers to access their own money after a 24-hour pile-on.
Calls for leniency over ‘inept’ attempts to fleece bank
A group's attempts to defraud a major bank out of more than $20 million have been described as rudimentary and doomed to fail.
‘Kick in the guts’: bank slammed for $3 withdrawal fee
One of the big four banks has come under fire for changes to one of its everyday accounts which means some customers are slugged $3 when they withdraw cash.
Door opens for first-home buyers to unlock ownership
Headway has finally been made on federal housing policy reform with laws set to pass parliament to allow home buyers to buy with a smaller deposit.
Call for super funds to pump gas giants for change
An analysis of the way some of the biggest superannuation funds vote at shareholder meetings suggests they're backing down over the expansion of oil and gas.
Australian finance to spark Indo-Pacific climate action
Cheap finance for climate projects is on offer from Australia for small businesses across the Pacific, Southeast Asia and South Asia.
Australia aims to bolster Pacific banking, labour visa
The federal government is working on a solution to ensure a major bank maintains services in the Pacific while bolstering the integrity of financial systems.
ANZ profit falls as mortgage wars hit big four banks
The ANZ bank has joined the rest of the big four in recording a fall in annual profit, as a result of ongoing mortgage competition and high inflation.
Westpac’s profit dips to $7b as mortgage stress eases
Westpac has posted an annual profit of $7 billion and lifted its final dividend, in Peter King's last financial result as chief executive.
Banks at odds over easing lending restrictions
Easing lending requirements so more first homebuyers can get a mortgage has received mixed reviews, with warnings more borrowers would face crippling debt.
It’s not you: banking outages are taking longer to fix
Digital payment services are under increasing pressure as Aussies ditch cash and they are mostly rising to the task, a Reserve Bank report has found.
CBA chair says ethical principles will govern AI use
Commonwealth Bank has the "best, most capable people" working on the use of artificial intelligence in its business, chairman Paul O'Malley says.
Win for banks over fugitive’s ‘audacious’ $500m fraud
Westpac and two other banks can recoup funds taken through a $500 million fraud perpetrated by a fugitive former football club owner and his associates.
Debit card surcharges could be scrapped in crackdown
Surcharges on debit card purchases could become a thing of the past by 2026, but some groups are warning the fees could be imposed in other ways.
‘Climate action pays’: call to rev up clean investment
There can be winners in the clean energy race, a group of super funds says, rolling out a campaign to quell community fears and accelerate development.
China stimulus a ‘very good development for Australia’
After iron ore prices plunged by more than a third since the start of the year, Chinese stimulus measures spell good news for the Australian budget.
Labor, expert lash ‘crazy’ call to step in over rates
Calls for Canberra to intervene with the Reserve Bank to lower interest rates to get financial reforms over the line have been rejected by Labor.
Westpac names business and wealth head as next CEO
Westpac says Anthony Miller will succeed Peter King who is retiring as chief executive officer and managing director after three decades with the bank.
New fear unlocked: unemployment worries grip consumers
Consumers are becoming more concerned about the sluggish economy and what this could mean for jobs, with cost-of-living becoming a lower order worry.
Plague of our time: banks devoting more to scam fight
Australia's big four banks say they're setting aside more resources to prevent customers being scammed out of their money.
No cost to taxpayers from bond scandal: ANZ head
There will be consequences across ANZ following the misconduct of employees over bonds, the company's head says.
Bank chiefs don’t rate a quick end to costs crunch
Interest rates might have reached their peak but the head of Westpac says many households are still grappling with tight budgets.
Regional bank to slash 400 jobs, take over branches
Bank of Queensland says in addition to about 400 job lay-offs, it will convert its 114 owner-managed branches to corporate ones.
Building costs in the frame for ongoing housing crisis
The Reserve Bank says it is closely monitoring the housing shortage, but dismisses reports a construction union is to blame for escalating costs.
Shareholders still cash in as CBA profit slips to $9.5b
Commonwealth Bank's net profit after tax was down six per cent to $9.5 billion in 2023/24 but Australia's biggest bank is increasing its dividend.
Call for ad ban on easy credit for groceries, medicines
A popular form of credit to encourage online shopping has morphed into a crutch for trying to stay a step ahead of financial disaster, an inquiry has been told.
Banks lashed for ripping off poorer customers
The market watchdog has slammed four major banks for causing financial distress to more than two million Australians by systematically overcharging on fees.
Greenlight for ANZ’s takeover of Suncorp’s banking arm
ANZ's multibillion-dollar deal to buy Suncorp's banking arm is full steam ahead after federal Treasurer Jim Chalmers approved the plan.
$1.5b data spend to simplify bank switching a ‘flop’
A banking industry-backed report says just 0.3 per cent of bank customers were actively using the data-sharing arrangements made possible by costly investments.