All posts tagged "Big Four"
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413Australia & NZAPRA Asked to Reconsider Tough Stance on Capital Requirements
Australian banks are reportedly lobbying for APRA to loosen its tough stance on the capital requirements it proposed last month, as funding costs rise more than expected.
December 19, 2018 -
539Australia & NZAPRA Proposes Higher Capital Requirements for Big Four Banks
The banking regulator is seeking feedback on a proposal to increase the Total Capital requirement for Australia's D-SIBs by 4-5% of risk-weighted assets by 2023.
November 9, 2018 -
308Australia & NZAustralian Bank Body Seeks an End to Fees For No Service
The Australian Banking Association will change its voluntary code of practice for bankers to end 'fees for no service', grandfathered payments and trail commissions.
October 11, 2018 -
252Australia & NZACCC Opens Inquiry into High Markup Currency Conversion Services
The inquiry will examine why major companies in Australia, including the big four banks, seem to be able to consistently charge high prices, said ACCC chair Rod Sims.
October 3, 2018 -
354Australia & NZ
Australia Finds Banking Oligopoly Detrimental To Consumers
The Productivity Commission report urges for more competition in Australia’s banking sector – a recommendation re-enforced by Treasurer Scott Morrison in a speech to industry executives.
August 6, 2018 -
212Australia & NZ‘Significant’ Governance Progress from Australian Banks – McPhee Report
Key initiatives introduced at banks include customer advocacy programmes, whistleblower protection policies and conduct background checks to stamp out staff with poor behaviour records.
April 20, 2018 -
235Australia & NZAustralia Royal Commission Finds AMP Repeatedly Deceived Regulator
Wealth manager AMP covered up for years a policy of charging customers fees for advice they never received; sought to influence “independent” review into the practice to protect executives.
April 19, 2018 -
237Australia & NZ
Australia to Review Lack of Competition in Banking Sector
The ACCC will examine a potential oligopolistic structure in Australia’s banking sector and review competitive practices that have allegedly led to higher barriers to entry for newcomers.
April 16, 2018 -
298Australia & NZ
Royal Commission Exposes Multiple Lending Practice Failures at Big Four
Public inquiry’s first round of hearings reveals multiple failures at ‘big four’ banks to lend in customers' best interests.
March 29, 2018 -
261Australia & NZASIC Mandates Banks’ Further Removal of Unfair Loans Terms
New guidance ensures bank staff are held responsible for conduct and statements outside of formal contracts; removes borrower’s liability in the event of lender misconduct.
March 17, 2018
