The ACCC says Mastercard offered cheaper rates to over 20 major retail businesses if they used its own network to process transactions.
May 31, 2022Borrowers that have difficulty repaying their loans can apply for a three to six month deferment. The deadline for applications is 30 June 2023.
May 27, 2022Shinhan Card is directed to enhance its card issuance and fraud prevention systems, and compensate customers for losses.
April 26, 2022The penalties are the result of six proceedings brought by ASIC in November. Westpac had already agreed to pay the penalties and customer remediation.
April 25, 2022Lenders have agreed to extend repayment periods for personal consumer financial products and to provide more favourable repayment plans.
February 11, 2022Banks have six months to update their system to reflect the new TWD 3,000 threshold that will trigger notifications that an online card transaction has taken place.
January 21, 2022Under new draft rules, banks are required to reduce interest and fee charges, prevent excessive credit usage, and better control credit risk in card operations.
January 3, 2022The class action alleges ANZ contravened the ASIC Act by charging retrospective interest and interest on purchases that were paid off in a timely manner.
December 9, 2021In its review, which focused on competition in the supply of credit cards, the ACCC found that the transaction "would not substantially lessen competition".
November 26, 2021The new credit card-based microloan service seeks to expand opportunities for lower income earners without access to traditional credit finance channels.
October 27, 2021