All posts tagged "Westpac"
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236Australia & NZAPRA Publishes Latest Data on Super Fund Underperformance
About 60% of choice products and 45% of MySuper products delivered returns below benchmarks. APRA will further intensify its supervision on trustees delivering sub-standard member outcomes.
December 17, 2021 -
470Australia & NZASIC Files Multiple Court Proceedings Against Westpac
Westpac has already agreed to admit to the allegations, remediate A$80mn to customers, and pay A$113mn in penalties, subject to court approval.
November 30, 2021 -
592Australia & NZRBNZ Calls for Risk Governance Improvements at Westpac NZ
An independent report found issues were acknowledged by the board for several years but they were not given due attention or effective remediation.
November 26, 2021 -
222Australia & NZ
Westpac Advances Progress on Risk Governance Improvements
Westpac CEO Peter King says the bank is already seeing culture improvements and benefits through reduced complexity and improved accountability.
November 13, 2021 -
139Australia & NZABA Rolls Out New Guidance on Providing Hardship Assistance
Some banks, such as Westpac, have already begun to implement practices within the guideline. Others will roll out the practices over the next 12 months.
November 2, 2021 -
146Australia & NZCBA Pleads Guilty to Mis-Selling Consumer Credit Insurance
Deputy chair Sarah Court said ASIC pursued a criminal case against CBA after it was clear customers had been sold insurance that they had no use for.
November 2, 2021 -
221Australia & NZ
ACCC Accredits Westpac as Data Recipient Under CDR
ADRs are allowed to receive information from other data holders and offer products and services under the consumer data right regime.
October 11, 2021 -
244Australia & NZCBA Faces Criminal Charges Over Consumer Credit Insurance Sales
Commonwealth Bank plans to plead guilty to making false or misleading representations to customers about insurance policies.
September 17, 2021 -
311AML / KYCAUSTRAC Releases Banking Sector Risk Assessments
The big four represent the highest risk due to the scale of retail products and services they offer, particularly those that facilitate cash transactions and rapid funds transfers.
September 8, 2021 -
240Australia & NZ
Australian Banks to Complete First CVA Analysis by Year-End
APRA has released a new paper describing the Climate Vulnerability Assessment now underway at Australia's five largest banks.
September 6, 2021
