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Showing 121 - 130 of 433 results for "Home loan"

CBA stashes cash for compliance

DARREN SNYDER  |  WEDNESDAY, 12 DEC 2018
... June. The provision is in addition to its remediation provisions for Credit Card Plus, Personal Loan Protection and Home Loan Protection insurance. Finally CBA will put $55 million towards transaction and separation costs in relation to the sale of CommInsure ...

Lenders must recognise millennial wealth strategies

DARREN SNYDER  |  TUESDAY, 27 NOV 2018
... several methods, the most common being margin lending products. Next is a line of credit secured against home equity and home loan redraw facilities. "These borrowers firmly believe in gearing's effectiveness as a wealth creation strategy and on ...

Comyn promises personal accountability

KARREN VERGARA  |  TUESDAY, 20 NOV 2018
... be]," he said. Orr grilled Comyn on CBA's poor selling practices, specifically on consumer credit insurance, and home loan and personal loan protection products. Comyn said the process of remediation is still underway, with $10.5 million repaid to ...

Ganis brings the changes at YBR

HARRISON WORLEY  |  MONDAY, 12 NOV 2018
Yellow Brick Road made a raft of personnel changes to support the strategic initiatives of new chief Frank Ganis. The firm is welcoming aboard a new head of its RESI lending arm in Macquarie Group's Michael Abboud, as Ganis looks to "breathe new life" ...

CBA sells CFSGAM, new wealth business chief executive appointed

KANIKA SOOD  |  WEDNESDAY, 31 OCT 2018
Commonwealth Bank is selling Colonial First State Global Asset Management (CFSGAM) to a Japanese buyer. The bank has entered into an agreement with Mitsubishi UFJ Trust and Banking Corporation (MUTB) to sell the business for $4.13 billion for a total ...

ASIC moves on Dollarmites

HARRISON WORLEY  |  FRIDAY, 19 OCT 2018
ASIC is set to review banking and financial literacy programs in Australian primary schools, including Commonwealth Bank's recently criticised Dollarmites program. ASIC said school banking programs are supposed to educate young Australians about the ...

ANZ chief says remediation is "distracting"

KARREN VERGARA  |  FRIDAY, 12 OCT 2018
... came from the top. Elliot said some customers had to wait 15 years for refunds when the bank's system calculated home loan products incorrectly; he admitted that this was "shameful" and "wrong." The panel also endeavoured to find out why the four ...

CBA fires up over Dollarmites criticism

HARRISON WORLEY  |  FRIDAY, 5 OCT 2018
Commonwealth Bank has responded to widespread criticism of its longstanding Dollarmites program. Executive general manager of the bank's retail arm, Mark Jones said CBA is proud of its school banking program, which has been running now for 87 years. ...

Millennial money changes course after RC

KANIKA SOOD  |  WEDNESDAY, 3 OCT 2018
... outcomes that may not benefit the average Australian, like more expensive financial advice or making it harder to obtain a home loan. Millennials need to continue the trend of saving and investing and improving their financial literacy early to meet ...

AMP ditches SMSF lending

KANIKA SOOD  |  WEDNESDAY, 26 SEP 2018
AMP Bank has pulled the plug on its SMSF lending business, joining CBA and Westpac. AMP will support current SMSF home loan customers. But starting November, they will not be able to switch to interest-only or refinance their loans. This leaves Macquarie ...