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Showing 1 - 7 of 7 results for %22Introducer Program%22

Court fines ANZ for dodgy introducer program

KARREN VERGARA  |  MONDAY, 13 MAR 2023
... referral program that breached consumer credit protection laws. The Federal Court found that the bank's Home Loan Introducer Program enabled unlicensed third parties to refer customers to ANZ for loans. This included cleaners and real estate agents who ...

ASIC sues ANZ over home loan referrals

CHLOE WALKER  |  FRIDAY, 26 NOV 2021
... from referrals through its home loan 'introducer program' and from unlicensed individuals outside the introducer program. The program involved home loan referrals to ANZ from third party "introducers" from various professions, such as cleaners ...

NAB to pay $15m for Royal Commission case study

ELIZABETH MCARTHUR  |  MONDAY, 19 OCT 2020
... third party introducers who were not licensed to engage in credit activity. This took place through NAB's "introducer program" whereby a third-party introducer could "spot and refer" a potential customer to NAB in exchange for a commission if the ...

NAB faces half a billion in fines

ELIZA BAVIN  |  WEDNESDAY, 13 NOV 2019
National Australia Bank has admitted to breaching credit legislation 255 times over its axed introducer program for mortgages. NAB has filed documents in the Federal Court admitting to 255 of the 295 breaches of the Consumer Credit Protection Act alleged ...

NAB needs 500 staff for remediation

ELIZABETH MCARTHUR  |  FRIDAY, 29 MAR 2019
... someone is going to be paid a fee to recommend us." However, further on in the proceedings Chronican said: "The Introducer Program was obviously a source of considerable embarrassment to NAB in the first round of hearings of the Royal Commission." Chronican ...

NAB ends introducer payments

ELIZABETH MCARTHUR  |  TUESDAY, 26 MAR 2019
... Australia Bank will no longer make referral payments to introducers. NAB chief executive Philip Chronican said ending "introducer" payments was part of NAB's ongoing efforts to be a better bank following the Royal Commission. He said: "Through the Royal ...

Financial advice under the Royal Commission spotlight next month

ALEX BURKE  |  TUESDAY, 13 MAR 2018
... products including home loans, car loans and credit cards. Case studies used in the hearings will involve NAB's Introducer Program and fraudulent home loan applications; CBA's accreditation of its brokers; Westpac car finance practices; and Citi's imposition ...
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