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Latest news: Banking

Banks back scrapping card surcharges for consumers

Banks back scrapping card surcharges for consumers

The Australian Banking Association supports a ban on credit card surcharges for consumers but baulked at capping the fees that merchants pay card issuers.

Bank customers more scam savvy as fraud losses fall

Bank customers more scam savvy as fraud losses fall

Bank customers more scam savvy as fraud losses fall

Bank customers more scam savvy as fraud losses fall

Australian bank customers are losing less money to scams as they gain more knowledge about grifts and banks boost defences.

AMP profit slips but adviser growth impresses investors

AMP profit slips but adviser growth impresses investors

AMP profit slips but adviser growth impresses investors

AMP profit slips but adviser growth impresses investors

Wealth manager AMP has posted another fall in bottom-line net profit, but is optimistic about future growth and its new digital banking service.

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Banks forced to take action on high-fee accounts

Banks forced to take action on high-fee accounts

Banks must ask themselves some 'difficult questions' following a review by ASIC, which has resulted in refunds totalling millions for low-income customers.

Banks told to make AI work for people, not against them

Banks told to make AI work for people, not against them

Artificial intelligence should be used to improve the lives of customers instead of just making more money out of them, the corporate regulator tells bankers.

Australia's frustration with motor insurance grows

Australia's frustration with motor insurance grows

Australia's financial product watchdog continues to grapple with a mountain of complaints, with car insurance the leading cause of consumer consternation.

Cafes, small businesses fear brunt of surcharge cut

Cafes, small businesses fear brunt of surcharge cut

The dreaded $6 line for a coffee could soon become reality for cafe owners after a proposal to scrap card surcharges could force fees to pass on to customers.

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Consumer win in card surcharge cut as business bristles

Consumer win in card surcharge cut as business bristles

Consumer win in card surcharge cut as business bristles

Consumer win in card surcharge cut as business bristles

Scrapping surcharges could save Australians about $1.2 billion, but small businesses think they will have to foot the bill.

Women in missing middle struggle during divorce process

Women in missing middle struggle during divorce process

Women in missing middle struggle during divorce process

Women in missing middle struggle during divorce process

Women are accepting unfair divorce settlements with few legal services targeted for those who don't qualify for legal aid but still cannot afford a lawyer.

Beyond carbon: big four banks urged to capture more gas

Beyond carbon: big four banks urged to capture more gas

Beyond carbon: big four banks urged to capture more gas

Beyond carbon: big four banks urged to capture more gas

It is a potent greenhouse gas responsible for climate change, but a report has found Australia's major banks have yet to single out methane emissions.

Web of systems exploited for insidious financial abuse

Web of systems exploited for insidious financial abuse

Web of systems exploited for insidious financial abuse

Web of systems exploited for insidious financial abuse

Perpetrators are largely unchecked as they use courts, banks and Centrelink to inflict financial abuse on an intimate partner, research has found.

RAMS franchisees hit back over Westpac 'blame shifting'

RAMS franchisees hit back over Westpac 'blame shifting'

RAMS franchisees hit back over Westpac 'blame shifting'

RAMS franchisees hit back over Westpac 'blame shifting'

Franchisees in a Westpac subsidiary accused of misconduct have challenged the findings and the bank's resulting termination of agreements.

Card-skimming scam nets almost $1m before pair charged

Card-skimming scam nets almost $1m before pair charged

Card-skimming scam nets almost $1m before pair charged

Card-skimming scam nets almost $1m before pair charged

Federal police are investigating whether two Romanian men arrested over the alleged card-skimming scheme had any links to an earlier scam.

ANZ shares sell-off after flat cash profit of $3.6b

ANZ shares sell-off after flat cash profit of $3.6b

ANZ shares sell-off after flat cash profit of $3.6b

ANZ shares sell-off after flat cash profit of $3.6b

Investors have hit sell on ANZ shares after the big four bank posted a cash profit less than what the market hoped to see.

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Westpac shares slip amid profit dip, volatile outlook

Westpac CEO Anthony Miller says Australia is well-positioned to weather storms in the world economy and he's looking forward to working with a Labor government.

Reserve Bank call for calm is welcome amid tariff drama

Federal Treasurer Jim Chalmers says Australia is still well-placed to navigate the economic uncertainty generated by Donald Trump's wide-ranging tariffs.

Super funds hit in co-ordinated lump sum cyber hack

Trillions in superannuation funds have been targeted by hackers, but many funds attacked are reporting no losses as experts call for better security.

Tariffs and growth slump a concern for banking leaders

Australia's economic growth forecasts have been downgraded due to Donald Trump's trade war, keeping its most important financial leaders on their toes.

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Pacific to bank on ANZ thanks to Australian guarantee

The federal government will provide a $2 billion guarantee to ANZ bank in the Pacific for it to continue services as Australia works to lock out China.

New rules for banks to help customers in stress

Banks that breach a new code of practice could have their failures publicised, like those who recently charged dead customers or closed branches without notice.

Customers tapping mad as watchdog warns on card charges

A huge number of complaints over common transactions has Australia's consumer watchdog warning businesses big and small to bide by the laws or risk a fine.

Comm Bank hikes dividend as shares hit all-time high

Australia's leading bank has delivered a $5.1 billion first-half cash net profit, in what analysts have called a "gravity-defying rally".

Big bank clips rates as RBA mulls next move

Strong retail spending figures are not expected to deter the Reserve Bank from cutting rates at its next meeting as one big bank lowers fixed-rate loans.

The $239b Aussie industry smashing investment records

Australia's exchange-traded funds industry continues to break records and its value is tipped to rise to perhaps as much as $800 billion by 2030.

Draft anti-scam laws need better victim compo measures

Consumer advocates have called for proposed scam prevention laws to be strengthened to better protect the public, while industry groups want more clarity.

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