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Showing 711 - 720 of 7373 results for "Consumer"

Bullock keeps cash rate at 4.10%

KARREN VERGARA  |  WEDNESDAY, 4 OCT 2023
... prices. As we have been saying for months, increasing the cash rate is only good for reducing demand-side pressures like consumer demand." HSBC chief economist for ANZ and global commodities Paul Bloxham predicts a 0.25% hike in the last quarter of 2023 ...

Platform fees, poor resourcing a red flag for regulator

JAMIE WILLIAMSON  |  TUESDAY, 3 OCT 2023
... poor disclosure of fees and under-investment in technology. In the letter, the Financial Conduct Authority's director of consumer investments Lucy Castledine outlined "key harms" to consumers the regulator has identified across platforms. First, she ...

Inflation rises to 5.2%

CASSANDRA BALDINI  |  THURSDAY, 28 SEP 2023
The Consumer Price Index (CPI) experienced a slight increase in the month of August, jumping to 5.2% from 4.9% in July. Data released by the Australian Bureau of Statistics (ABS) revealed that the major contributors to the price increase included housing ...

CALI takes on Life Code

CHLOE WALKER  |  THURSDAY, 28 SEP 2023
... ensuring that the financial services industry remains responsive to consumers' needs." Last month, the FSC added several new consumer protections to the Life Code, including the industry's first guidelines on family and domestic violence, as well as ...

Betashares carves slice of superannuation pie

CHLOE WALKER, JAMIE WILLIAMSON  |  WEDNESDAY, 27 SEP 2023
... own strong customer focus and the ability to enhance member outcomes," Bendigo and Adelaide Bank chief customer officer consumer banking Richard Fennell said. "As part of this process, the bank has prioritised a smooth transition to a new provider." ...

ASIC fines fintech for misrepresenting crypto product

CASSANDRA BALDINI  |  WEDNESDAY, 27 SEP 2023
Local fintech Bobbob has paid $53,280 to resolve infringement notices issued in response to misleading claims it made about a crypto-asset linked investment product. Over an eight-month period, a product known as the Savings Product was offered, attracting ...

Licensees shun remediation obligations: ASIC

KARREN VERGARA  |  TUESDAY, 26 SEP 2023
... lacks appropriate oversight and accountability. ASIC measured large licensees against standards in Regulatory Guide 277 Consumer Remediation and found several gaps that could lead to poor consumer outcomes. Many are narrowing the remediation review period ...

ANZ hit with $15m penalty for misleading customers

ANDREW MCKEAN  |  TUESDAY, 26 SEP 2023
... funds available to them in select credit card accounts. The Court found that ANZ breached both the ASIC and the National Consumer Credit Protection Act by falsely indicating that customers could access a cash advance from funds listed as 'Available Funds' ...

NAB to pay $2.1m for knowingly overcharging customers

JAMIE WILLIAMSON  |  FRIDAY, 22 SEP 2023
... systems have let customers down, we expect all financial institutions, especially our banks, to act quickly to reduce consumer harm." In response, NAB said the issue "related to the incorrect selection of a fee by NAB when setting up a payment arrangement ...

ASIC takes legal action against crypto exchange

ANDREW MCKEAN  |  THURSDAY, 21 SEP 2023
ASIC has commenced civil penalty proceedings against Bit Trade, provider of crypto exchange Kraken, following alleged failures to adhere to design and distribution obligations for margin products offered to Australian customers. Since the introduction ...

Editor's Choice

Global X awards mandate for ETF business

ELIZA BAVIN  |   12:33PM
Global X has awarded a new custody and administration mandate for its Australian ETF business.

Bell Asset Management launches small-caps fund

KARREN VERGARA  |   11:56AM
Bell Asset Management has formally launched its Australian Small Companies Fund, which is run by former Tyndall Asset Management portfolio managers.

Former Australian Ethical finance chief lands new gig

MATTHEW WAI  |   11:09AM
The former chief financial officer of the ethical investment manager has joined a local finance company after wrapping up his tenure at AUB Group.

MySuper assets pursue $1.5tn Choice sector

KARREN VERGARA  |   12:20PM
MySuper assets are fast catching up to the $1.5 trillion Choice sector, hitting nearly $1.2 trillion in the March quarter.

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