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Showing 11 - 20 of 408 results for "Home loan"

NAB to pay $2.1m for knowingly overcharging customers

JAMIE WILLIAMSON  |  FRIDAY, 22 SEP 2023
NAB will pay $2.1 million in a fine issued by the Federal Court over knowingly overcharging customers certain fees and failing to tell them. The court has ordered the bank pay the penalty for continuing to charge periodic payment fees it knew was not ...

Bravura hires global head of product

CASSANDRA BALDINI  |  WEDNESDAY, 23 AUG 2023
Bravura Solutions has named Greg Johnson as its new head, amid intentions to shift towards a product-centric business structure. In the role, Johnson will lead Bravura's global product team and work on simplifying and unifying its suite of products ...

ACCC slams door on ANZ, Suncorp deal

CASSANDRA BALDINI  |  FRIDAY, 4 AUG 2023
The Australian Consumer and Competition Commission (ACCC) has declined ANZ's $4.9 billion bid to acquire Suncorp Group's banking arm, citing concerns around competition and potential consumer detriment. The regulatory body said it remains unsatisfied ...

Mortgage holders, retailers relax after rate pause

KARREN VERGARA  |  WEDNESDAY, 2 AUG 2023
... RBA's pauses. A stable cash rate in July didn't stop the nation's biggest lenders from lifting their fixed and variable home loan rates, Mortgage Choice chief executive Anthony Waldron said. The big four banks boosted their owner-occupier fixed rates ...

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... months. Complaints involving financial difficulty rose by 9% year on year to 4849. These shot up 31% in the June quarter. Home loan complaints rose 10% annually but grew 19% quarter on quarter. Credit card complaints rose 15% year on year and more than ...

Suncorp wage scandal comes to a head

ANDREW MCKEAN  |  FRIDAY, 9 JUN 2023
Suncorp has signed an Enforceable Undertaking with the Fair Work Ombudsman and reimbursed its staff with a back-payment of $32 million, inclusive of interest and superannuation. Suncorp underpaid nearly 16,000 employees between May 2014 and March 2022. ...

Cash rate hits 4.1%

KARREN VERGARA  |  TUESDAY, 6 JUN 2023
... that most borrowers were sticking to variable rates throughout the year. This trend continued in May. "Mortgage Choice home loan application data shows that over the month, 93% of borrowers chose variable rate home loan products, compared to just 7% ...

RBA steadies cash rate, flags more hikes

KARREN VERGARA  |  WEDNESDAY, 5 APR 2023
... research at Finder, said if the cash rate was to peak at 4%, that will equate to $15,000 more in interest on the average home loan of $600,000. For businesses, Australian Chamber of Commerce and Industry chief of policy and advocacy David Alexander warns ...

Court fines ANZ for dodgy introducer program

KARREN VERGARA  |  MONDAY, 13 MAR 2023
ANZ has copped a $10 million penalty for its home loan 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 ...

AFCA secures $900m in compensation

CASSANDRA BALDINI  |  MONDAY, 21 NOV 2022
Australians have taken home almost $900 million in compensation and refunds since the ombudsman service opened its doors in November 2018. The Australian Financial Complaints Authority (AFCA) said it's also handled more than 300,000 disputes, an ...