The ACCC has blocked the big four banks from bargaining with Apple for more control over Apple Pay.
The banks could have used their collective bargaining power not only against Apple for Apple Pay but also stall the adoption of mobile payments in Australia.
Banking inquiries in their current form serve as political theatre, rather than as a genuine form of accountability.
Members of House Standing Committee on Economics should be asking the directors of Australia's Big Four banks (not the CEOs) different questions, if they really want the right answers.
Commonwealth Bank of Australia CEO Ian Narev attends the parliamentary inquiry into the banking system.
AAP Image/Lukas Coch
Business Briefing: fixing culture in banking and finance.
The Conversation 20 Mo (download)
"Banking culture" has drawn a lot of scrutiny this year, after several high-profile scandals. But Professor Paul Kofman says there isn't much evidence for how to intervene if there's a problem.
ASIC has been highly critical of some of the practices of Australia’s big four banks.
An ASIC report detailing how financial advice was paid for but not given by Australia's big four banks exposes a culture problem that the government needs to deal with.
ASIC chairman Greg Medcraft could learn a thing or two from his US counterparts.
ASIC has been too slow to prosecute those accused of rigging the bank bill swap rate so it doesn't matter if the government makes the penalties harsher for those found guilty.
Commonwealth Bank chief Ian Narev was the first to appear before a parliamentary committee inquiring into the practices of the big four banks.
When the cash rate increases, lending rates shoot up like rockets, but when the opposite occurs they go down like feathers.
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.
Bank customers are tired of the excuses.
The universal reform of the banking system will take more than another inquiry.
Increased requirements from APRA could have been a good thing for Australia’s big four banks.
Australia's big four banks are managing risk well, this could be contributing to their strong performance.
Malcolm Turnbull has downplayed calls for a royal commission into the banks, arguing that their operations are already well governed.
The politics that Malcolm Turnbull and the big banks support is one in which people are robbed of their citizenship and reduced to economic functionaries.
Banks must accept they can’t control the values, beliefs and behaviours of their employees.
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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.
Because Australia’s banking system is so concentrated, the ‘big four’ banks face similar threats.
Analysis of the similarities between Australia's four largest banks shows all are exposed to risk of a housing bubble burst and face threats from digital disruption.
In its first quarter results this month, the National Australia Bank (NAB), breathed a sigh of relief announcing that the “separation” of Clydesdale had been “successful” with an expected loss of approximately…
Good for humanity?
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Australia's biggest banks seem more concerned with disclosing how much paper they recycle than their lending exposure to coal mines.
Australian depositors are already protected under existing legislation, so why do we need a deposit levy?
The federal government's decision to implement a deposit levy may increase the costs of banking in Australia without improving the stability of the system.
Large Australian banks are being required to significantly increase their levels of equity capital.
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Investors may not like it but Australian banks have been given little choice by the prudential regulator other than to undertake capital raisings.
The Commonwealth Bank’s chief executive Ian Narev apologised to clients given poor financial planning advice.
Major banks including the ANZ, NAB, the CBA and Macquarie have faced a public humbling, but professed contrition must become real action.
NAB chief Andrew Thorburn has been forced to defend the bank’s reputation after the actions of rogue financial planners were revealed.
There are simple solutions to prevent more financial scandals in Australia - the question is, will the government take them up?
Who’s watching Australia’s financial regulators?
The clear case of regulatory capture in Australia's financial system is grounds for a new oversight body.
Damn, forgot my PIN.
It came as no great surprise when David Thorburn announced this week that he was stepping down as chief executive of the troubled Clydesdale and Yorkshire banks. Having joined Clydesdale in the 1970s as…