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.
ANZ has already struck a deal with Apple for its contactless payment system but now four other banks are arguing the company is making competition difficult.
The competition in Australia's contactless payment industry is heating up as Apple Pay sets up in Australia. However some banks claim the company is making the system less competitive.
NAB CEO Andrew Thorburn defended the culture of the bank he works for during the House of Representatives Standing Committee on Economics annual public hearing.
As the chief executives of Australia's big four banks come before a House of Representatives economics committee, we ask a panel of experts what questions the banks should be answering.
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.
Bill Shorten is continuing his push for a royal commission into the banks.
Bill Shorten is continuing to pressure for a banking royal commission by highlighting rising bank profits and escalating consumer complaints in recent years.
Malcolm Turnbull announced the banks would now be regularly accountable to the parliament.
Malcolm Turnbull has announced that the heads of Australia's big four banks will be grilled annually by the House of Representatives economics committee.
After the Reserve Bank cut the cash rate by 25 basis points to 1.5%, the four big banks said they would pass on only part of the reduction.
Malcolm Turnbull has sternly told the banks they should pass on the whole of Tuesday's rate cut - or their chief executives must explain why they are not doing so.
The scope for systems like universal banking is smaller in an age where consumers can shop around for financial products.
The idea of separating out the retail arms of the Big Four banks, featured in the Greens election policy, has merit and has been done before.
RBA governor Glenn Stevens said moderate expansion is continuing in the Australian economy.
AAP Image/Lukas Coch
The Reserve Bank of Australia has decided to leave the official cash rate unchanged at a record low of 2%, but said there was scope for a rate cut down the line.
Lending in a frothy property market has the potential to bring the economy unstuck.
Banks might be pushing rates up, but the Reserve Bank's focus should be on who they're lending to.
Enabling consumers to keep their bank account numbers when switching institutions will encourage greater competition.
AAP Image/Dan Peled
It’s a pain to change mobile providers, but at least keeping your number is easy. It’s much more of a pain to change banks and much of that pain is because we have to change bank account numbers. Why don’t…
Protest and dissent are the foundation stones of modern societies and have helped secure a measure of democracy and human rights. Against all the odds, ordinary people have struggled to secure universal…