ME bank made "false or misleading" representations in home loan customer communications and failed to give timely notice of changes to the loan terms.
May 29, 2021Taiwan central bank says the measures are aimed at curbing property hoarding and mitigating speculation by highly leveraged borrowers.
March 23, 2021The ACCC recommends that lenders be required to regularly prompt borrowers to review their loan costs and consider switching products or lenders.
December 10, 2020The penalty was discounted due to NAB’s cooperation with ASIC and its admissions that it contravened the law by using unlicenced home loan referrers.
October 20, 2020Despite its recent Federal Court loss, ASIC was right to appeal the dismissal of its responsible lending case against Westpac, says bank conduct specialist Dr Andy Schmulow.
July 11, 2020ASIC has secured A$160mn in remediation for consumers and plans to take enforcement action against lenders who sold junk consumer credit insurance products.
May 14, 2020The time taken to pass on announced interest rate reductions to customers varied across the big four banks, with revenue being a key motivator. CBA consistently had the longest lag period.
April 27, 2020Australia's big four banks have each announced reductions in their lending rates, as well as the availability of deferrals of small business and home loan repayments.
March 20, 2020Mathew Alwan was permanently banned by ASIC last year and pleaded guilty to ‘intention to defraud’ earlier this year for making false or misleading statements to NAB.
November 21, 2019ACCC chairman Rod Sims reportedly told a parliamentary hearing that bundling products such as credit cards and insurance would form part of the agency’s inquiry.
October 24, 2019