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Showing 71 - 80 of 358 results for "Credit card"

CBA in court over RC case studies

ELIZABETH MCARTHUR  |  MONDAY, 16 MAR 2020
... problem gambler, and failed to take reasonable steps to verify his financial situation before offering and approving credit card limit increases. The regulator alleges that CBA breached sections 130(1) and 128 of the National Credit Act when it failed ...

Wells Fargo coughs up $4.5 billion

ALLY SELBY  |  MONDAY, 24 FEB 2020
Wells Fargo will fork out $4.5 billion to resolve the fake account scandal that has continued to rattle the world's fourth largest bank since 2016. The $4.5 billion (US$3 billion) settlement with the Securities and Exchange Commission (SEC) and ...

Former Wells Fargo chief banned for life

ALLY SELBY  |  FRIDAY, 24 JAN 2020
... their role in the bank's "systematic sales practice misconduct", which saw employees open millions of fake bank and credit card accounts to meet sales targets. The OCC has settled with the bank's former chief administrative officer and director of corporate ...

Latitude Financial joins banks on AFCA complaints list

ALLY SELBY  |  MONDAY, 13 JAN 2020
... June 2019. Nearly 45% of these complaints were not resolved. Most complaints received by the authority centered on credit card products, with 3570 complaints received during the eight-month period. Following credit cards, consumer loans (2965 complaints) ...

Goldman Sachs realigns reporting structure

ALLY SELBY  |  WEDNESDAY, 8 JAN 2020
... digital platform Marcus, which provides personal loans and high-yield savings (1.7%) to consumers, as well as the bank's credit card (the Apple Card), which had previously been reported in a different division. According to the bank's 8-K filing with ...

Industry fund offers bonus on income streams

KANIKA SOOD  |  THURSDAY, 31 OCT 2019
A $54 billion industry fund is nudging its older members towards income streams with a bonus of up to 2%, as it develops its retirement income solutions. Cbus will introduce a bonus for members upon retirement, with chief executive David Atkin saying ...

Banks face imminent disruption

ELIZABETH MCARTHUR  |  THURSDAY, 19 SEP 2019
... explained - will become like banks to many consumers. Square is a product attached to mobile phones that functions as a credit card. Wood highlighted that the company also has a powerful marketing capacity since it collects an enormous amount of data ...

NAB launches team for vulnerable customers

KRISTI CHENG  |  TUESDAY, 17 SEP 2019
... have been able to provide much needed assistance to those experiencing elder and financial abuse, mental illness and credit card debt," she said. At the request of customers, NAB has also applied restrictions on gambling transactions on credit or debit ...

AFCA delivers $83 million win

ELIZABETH MCARTHUR  |  MONDAY, 15 JUL 2019
The Australian Financial Complaints Authority has collected over $83 million for consumers and small businesses in just six months. In its first six months of operations, AFCA received over 35,000 complaints and 60% of those have already been resolved. ...

ASIC slams consumer credit failures

HARRISON WORLEY  |  FRIDAY, 12 JUL 2019
ASIC's review of the sale of consumer credit insurance has lambasted the sector for consistently failing consumers in the design and sale of products. According to ASIC report 622, CCI products are being promoted and sold to customers unfairly, and ...