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Showing 641 - 650 of 5944 results for "Banks"

Chief economist update: RBA promises support over the next three years

BENJAMIN ONG  |  WEDNESDAY, 7 APR 2021
... that upgraded Australia's 2021 GDP growth forecast by 1.3 percentage points to 4.5%. But like most other world central banks, the RBA cannot afford to rest on its laurels because "there are still considerable uncertainties regarding the outlook" ...

ASIC sues CBA over monthly fees

ANNABELLE DICKSON  |  THURSDAY, 1 APR 2021
... customers," the regulator said. "Financial institutions need to put customers first, and customers should have confidence that the banks they deal with charge fees correctly." CBA paid $66 million in remediation to most of the affected customers by December ...

Zero rates causing risky business: Pengana

ANNABELLE DICKSON  |  WEDNESDAY, 24 MAR 2021
... getting richer and the poor getting poorer. "The zero-interest rate policy was absolutely the appropriate thing for central banks to do in the wake of COVID-19, but it has unintended consequences," Fisher said. "There is no wage growth, no inflation ...

ANZ, CBA settle class action

ANNABELLE DICKSON  |  MONDAY, 22 MAR 2021
... the United States District Court for the Southern District of New York against ANZ, CBA, NAB and Westpac and other global banks. The class action alleged the banks conspired to fix the prices of BBSW-based derivatives. Both ANZ and CBA said the settlement ...

FSC defends retail super funds

ELIZA BAVIN  |  MONDAY, 22 MAR 2021
... government's announcement of the Your Future, Your Super reforms package. ISA had said the reforms package will benefit the big banks and for-profit super sector allowing them to take up to $10 billion a year in profit despite poor performance. The FSC ...

360 Capital to raise $93m

ELIZA BAVIN  |  FRIDAY, 19 MAR 2021
... Aanholt said tighter regulatory constraints and consistent shrug demand for credit has seen a gradual contraction of the major banks and the emergence of private, non-bank lenders to fill the gap. "This trend is expected to continue, creating attractive ...

Banks should pay advice exit levy: TAA

ANNABELLE DICKSON  |  THURSDAY, 18 MAR 2021
The Advisers Association (TAA) is calling on the government to mandate major banks and institutions pay an exit levy upon leaving the advice industry to provide relief for financial advisers and mitigate the increasing levy. Earlier this month the Australian ...

Admin fees could balloon from BFID

KARREN VERGARA  |  TUESDAY, 16 MAR 2021
... structures to the advantage of growing their market share in terms of advertising reach. Under this Bill, the capacity for big banks and institutions to own wealth management companies and to effectively corner the market is legitimised," Connelly said. ...

Banks still failing customers after Royal Commission

ELIZA BAVIN  |  TUESDAY, 16 MAR 2021
... fees, poor customer service, fraud, and unfair terms and conditions. CHOICE chief executive Alan Kirkland called out the banks for not stepping up to the plate in the wake of the Royal Commission. Additionally, Kirkland said this is occurring as crossbench ...

Remediation services profiting from Royal Commission failures

ELIZABETH MCARTHUR  |  THURSDAY, 11 MAR 2021
... 20% of the refund amount plus GST (charged on a no-win-no-fee basis). "The Banking Royal Commission exposed misconduct by banks and some financial advisors. Now thanks to its findings, they can help consumers claim back their money," Remediator co-founder ...