The RBI carried out a review of payment system charges, which consumers complain are “high and non-transparent”.
August 19, 2022The FSC asked the Bankers Association to amend its guidances to ensure consumers get notifications when their credit card is added to a digital wallet.
July 4, 2022The 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, 2021