The current system of credit card fees is too confusing.
Shutterstock
As the federal government changes the rules around credit cards, it should force companies to be more transparent about fees.
An early prototype of the IBM Watson cognitive computing system in Yorktown Heights, NY. It was originally the size of a master bedroom in 2011.
Wikipedia
Banks are relying more and more on robots that perform financial services.
The South Australian bank levy could illicit a response from Canberra.
AAP/ Ben Mcmahon
Given the small percentages involved, South Australia’s bank levy won’t interfere with the federal government’s levy, and would arguably be compatible with it.
United States Sen. Elizabeth Warren questions Wells Fargo CEO John Stumpf, foreground, during congressional hearings into allegations that bank employees opened millions of unauthorized accounts to meet aggressive sales targets.
(AP Photo/Susan Walsh)
Unethical corporate behaviour isn’t just embarrassing from a PR standpoint, it can also be unprofitable for firms and their investors.
Are front-line bank staff trained to detect elder abuse?
AAP/Julian Smith
The Law Reform Commission has recommended that banks take ‘reasonable steps’ to protect vulnerable Australians.
Applying the GST to bank products and services would increase costs for consumers but reduce distortion in our economy.
Sergio Dionisio/AAP
Applying the GST to banking has much sounder economic underpinnings than the current levy, would have raised much more revenue, and would have applied to all banks rather than just the big banks.
Banks are in such poor conditions that it affects Tunisians’ day to day lives.
Zoubeir Souissi/Reuters
Tunisia’s economy has been struggling since the country’s 2011 revolution. Corruption and bad governance within the banking sector is not helping.
AAP/Lukas Coch
The University of Canberra’s Deep Saini and Michelle Grattan discuss the week in politics.
White South Africans own most companies and shares on the Johannesburg Stock Exchange.
Reuters/Philimon Bulawayo.
The debate about white monopoly capital in post-apartheid South Africa is good for the country’s politics but it tends to come with bad sociology.
Bill Shorten arrives to deliver the budget reply speech.
Mick Tsikas/AAP
Bill Shorten has said Labor will oppose the budget’s increase in the Medicare levy hitting taxpayers on incomes under A$87,000.
Australian Bankers’ Association chief Anna Bligh will have to manage more scrutiny from the ACCC under the new changes.
Lukas Coch/AAP
The budget included a few measures to make the banking sector more competitive, but they don’t go far enough.
Scott Morrison and Malcolm Turnbull have landed themselves in a fight with the banks.
AAP/Lukas Coch
But the key point is that the big five banks are the ideal soft target for a tax raid because they are both rich and lacking in friends.
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Despite the hefty tax imposts in Tuesday’s budget, Mathias Cormann still insists the fiscal problem was a spending rather than a revenue one.
There are better ways of dealing with distortions caused by the bank than the government’s quick, politically opportunistic, measure.
Joel Carrett/AAP
The new levy on banks from the budget is a small hit to their profit but it could have unintended consequences.
The treasurer referred to the A$13 billion “zombie” measures the Senate has failed to pass as a “Senate tax”, in justifying the tax increases in this budget.
Lukas Coch
The budget was extraordinary in many ways. It is an abandonment of restraint on taxes by a liberal government. It is nakedly populist and it also acknowledges that government debt can be productive.
With the intensity of competition across many industries, financial institutions such as ANZ need to be agile and respond to changes quickly to maintain business.
Mal Fairclough/AAP
The agile working style was originally designed by tech companies for efficiency in software development but now one of Australia’s big four banks wants to implement this.
‘No, I absolutely do not wish to change my password, thanks.’
Shutterstock/Rawpixel.com
If security advice from government agencies doesn’t ring true, customers won’t take it – which puts us all at risk.
Zoom Team/Shutterstock
A new report confirms how the rich become deluded about their talents, but also hints at a growing acknowledgement of inequality.
The Conversation/Emil Jeyaratnam
Millie, aged 5, wants to know where money comes from. We asked an economist to explain.
WeChat has transformed from a social media to a payment platform (among other things) and had success in China. Could Australia be next?
Siphiwe Sibeko/Reuters
While Apple Pay may have won the battle against some of Australia’s banks, it may lose the war against the providers of digital wallets, such as Tencent and Alibaba.