NAB Group CEO Andrew Thorburn will this week answer questions from another committee inquiring into banking practices.
To boost competition in banking we should give consumers better access to data and account number portability.
US bank Wells Fargo was hit with a record fine after sales-driven staff opened thousands of accounts customers never asked for.
Sales incentives must change to ensure service is rewarded over targets.
ASIC charges businesses and individuals around A$50 million each year for company searches.
Keeping public information about companies locked up behind paywalls and maintained by private interests is not in the public interest.
Bank customers are tired of the excuses.
The universal reform of the banking system will take more than another inquiry.
Before he was the Republican presidential nominee, Donald Trump accepted three bars of gold bullion as payment for a 10-year lease on a building he owned.
The people wanted reform but they got excuses, and now populism is winning.
Lower interest rates will only have the stimulatory effect required if they are passed on to borrowers.
People queue to apply for social grants in Cape Town, South Africa.
What seems to be a simple question of banks’ responsibilities is actually a major issue playing out where social security, banking, property, criminal and constitutional law intersect.
Westpac Chief Executive Officer Brian Hartzer gave excuses for traders behaviour in regards to the BBSW benchmark.
With all the weight of evidence stacked against the banks in the case of BBSW benchmark, surely now is the time for the government to enforce regulation.
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The government should resist the temptation to soften monitoring efforts aimed at MPs and their families and associates.
In announcing new money for the Australian Securities and Investments Commission, the Treasurer and the Minister responsible Kelly O’Dwyer executed a synchronised back flip with tuck, declaring that “The…
Last week, Commonwealth Bank announced the creation of a Blue Riband panel to “provide an additional layer of assurance for complex claim assessment and decision-making processes” at its troubled CommInsure…
The banking sector has problems, but a Royal Commission isn’t the answer.
Royal Commissions work best when one specific issue can be addressed, rather than a wide range of problems.
ASIC chairman Greg Medcraft says the regulator ‘can’t look over everyone’s shoulder’.
Banks have had notice of these issues and failed to resolve them - it seems only fair that they should have to pay.
Financial System Inquiry chair and former Commonwealth Bank chief David Murray is party of a group of people calling for a legislated ‘objective’ of super.
Legislating an 'objective' for super could have many unintended consequences.
Access to small loans is getting easier, but not everyone is resilient enough to manage their finances.
Image sourced from shutterstock.com
The payday lending sector is under scrutiny again after the Australian Securities and Investment Commission’s investigation into Nimble. After failing to meet responsible lending obligations, Nimble must…
Banks must accept they can’t control the values, beliefs and behaviours of their employees.
Image sourced from Shutterstock.com
Banks may pay lip service to ethical cultures but often curtail the critical questioning that allows ethical issues to be surfaced in the first place.
Former ANZ chief Mike Smith remains as a ‘non-executive advisor’ to the bank’s board.
Unethical behaviour by bankers represents a systematic risk to banks, and causes widespread harm.
Wall Street has been difficult to tame.
Sanders and Clinton have been trading blows over who’d be best to reform Wall Street, but new research suggests they may not have the ‘authority’ to do it.
ASIC Chairman Greg Medcraft and Commissioner Cathie Armour during a Senate Estimates hearing at Parliament House. Medcraft told the hearing ASIC must be a ‘model litigant’.
ASIC has a high success rate, but its high-profile civil action against ANZ Bank will be a tough battle to win.
Commonwealth Bank CEO Ian Narev and CFO David Craig have a new risk problem on their hands.
If ASIC gets its way and 'conduct risk' is regulated, banks might get serious about systematic problems.