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APRA is allowing the big four banks to coordinate in a way that might otherwise be illegal.
‘Storm someone else’s capital.’
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Bank stocks have taken a hammering in recent weeks. It is all beginning to look very 2008.
In an era of data breaches and privacy intrusions, the majority of Canadians want paper bills. So why aren’t organizations listening to them?
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In an era of data breaches and data privacy concerns, governments should enshrine in law a requirement for companies and banks to send paper bills and statements in order to protect consumers.
It’s lonely out there.
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Banking deserts make it harder for children and young adults to become financially literate, which leads to worse credit and a lifetime of disadvantage.
It’s a hard sell to pretend banks are the playthings of activist groups.
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Laws on boycotts already exist, but their aim was never to target consumer groups.
The banks haven’t provided the Commission with as much information as it would like.
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The ACCC has inquired into mortgage rates before. This time will want detail.
The prime minister says banks are “basically profiteering”. It’s a difficult case to make.
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Evidence for the prime minister’s contention that the banks are “profiteering” is thin on the ground.
Research shows the benefits of having a face-to-face relationship with your bank.
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Research suggests there are hidden costs to abandoning personalized banking relationships in favour of online banking.
Chinese-Australians have largely voted in line with the nation as a whole at the 2019 federal election.
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While there has been talk of a “religious vote” or an “ethnic vote” holding sway at this election, particularly in Sydney’s western suburbs, new research does not bear that out.
The prudential regulator has a history of doing too much, too late.
Combined, APRA and the Reserve Bank are about to give households on $150,000 up to $120,000 more borrowing power.
A ‘hard Brexit’ appears increasingly likely.
AP Photo/Kirsty Wigglesworth
American companies still face enormous uncertainty about how they’ll be doing business in the UK and EU in the coming years, particularly as the April 12 Brexit deadline draws closer.
In a survey of 1,000 Australians, 35.4% agreed banking and financial institutions show ‘no leadership for the greater good’.
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More than a third (35.4%) of respondents surveyed by the Australian Leadership Index believe banking and financial institutions show “no leadership for the greater good”.
A decision of the New Zealand government means if a New Zealand bank goes belly up, Australian taxpayers could find themselves cleaning up the mess.
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A mismatch between Australian and New Zealand regulations means Australian taxpayers could be on the hook if a New Zealand bank fails.
The race is on to see who will replace outgoing World Bank President Jim Yong Kim.
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The World Bank’s original governance arrangements have changed much more slowly than the scale and nature of its operations.
Radical honesty works, but it is difficult.
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The first bank to embrace radical honesty would do well out of the royal commission and leave its rivals in the dust. But it would be hard.
Canadians are up in arms about Statistics Canada’s push for their financial data. They shouldn’t be.
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Statistics Canada has been tone-deaf in its push for the financial data of Canadians from banks, but that data is essential to forming good public policy.
Doctors take vows to act in the best interests of their patients. They work.
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The best way to get bankers to behave well might be to bind them to a code of ethics, like doctors. We’ve tried ever tighter rules.
To protect bank customers, the law could mandate behaviour defined in a code of conduct to be strictly liable, and breaches criminal.
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Banks have viewed their codes of conduct as non-binding statements of comfort. They need to enforce them under pain of legal penalty.
Danske Bank is under investigation for money laundering.
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Denmark’s biggest financial institution has admitted that around €200 billion of questionable money flowed through its Estonian branch from 2007-15.
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Michelle Grattan speaks with Deep Saini about the week in Australian politics.