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Showing 41 - 50 of 433 results for "Home loan"

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 ...

ANZ told to pay $25m for 20-year failure

JAMIE WILLIAMSON  |  THURSDAY, 27 OCT 2022
ANZ has been ordered to pay a $25 million penalty for failing to provide banking customers with promised benefits for about two decades. The Breakfree package was introduced in 2003 and was offered with several ANZ products including home loans, credit ...

ASIC bans Sterling & Freeman director

ANDREW MCKEAN  |  WEDNESDAY, 7 SEP 2022
... misleading or otherwise improper. This banning followed an investigation by ASIC into Saman's conduct concerning two home loan applications that he submitted to Auswide Bank for a family member and a close relation in December 2016 and 2017. The loans ...

Commonwealth Bank profit nears $10bn

CASSANDRA BALDINI  |  WEDNESDAY, 10 AUG 2022
Commonwealth Bank (CBA) reported its cash net profit has risen 11% to $9.6 billion and its net profit increased 9% to $9.7 billion since last year. The banking giant said home loans, up 7.4%, contributed to the strong earnings as well as growth in core ...

ANZ, Suncorp deal cops industry backlash

CASSANDRA BALDINI  |  TUESDAY, 19 JUL 2022
ANZ's proposed takeover of Suncorp's banking division has generated varying industry speculation. The Australian Competition and Consumer Commission (ACCC) has raised concerns around the deal and announced plans to commence a review of the acquisition ...

Mason Stevens hires interim head of fixed income

ELIZABETH FRY  |  FRIDAY, 17 JUN 2022
Mason Stevens has hired Andrew Baume as interim head of fixed income, pending the outcome of a search for a top fixed income investment professional. Baume will report to investment chief Jacqueline Fernley. He replaces Jesse Imer who recently joined ...