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The Latest News from banking

Crunch time for divestment of climate-harming companies

Crunch time for divestment of climate-harming companies

Big investors are using "stewardship" to get more nosy about what companies say they are doing and what they're actually doing to reduce their carbon footprint.

Households keep falling behind as rate increases bite

Households keep falling behind as rate increases bite

Households keep falling behind as rate increases bite

Households keep falling behind as rate increases bite

Most borrowers are adapting to tough financial conditions but the number of people in hardship or struggling to meet repayments is growing.

Tiwi Islanders take aim at bank's complaint rejection

Tiwi Islanders take aim at bank's complaint rejection

Tiwi Islanders take aim at bank's complaint rejection

Tiwi Islanders take aim at bank's complaint rejection

ANZ has rejected a complaint from Tiwi traditional owners who say the bank's funding of fossil fuel projects contribute to adverse human rights impacts.

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'I don't do fraud': jury hears ex-NAB staffer's denials

'I don't do fraud': jury hears ex-NAB staffer's denials

NAB was targeted by separate plots to use leaked, fraudulent bank documents to purchase Sydney properties and withdraw over $21 million, jurors have heard.

Wanted: funds to pollinate climate, nature start-ups

Wanted: funds to pollinate climate, nature start-ups

Investors are being tapped for funding for early-stage companies tackling the climate crisis, the energy transition, new foods and cleaner industry.

Trio on trial accused of $21m fraud plot against NAB

Trio on trial accused of $21m fraud plot against NAB

Two men and a woman allegedly formed a multimillion dollar fraudulent scheme against National Australia Bank and other firms using fake vouchers and guarantees.

Mortgage defaults rise as borrowers struggle to keep up

Mortgage defaults rise as borrowers struggle to keep up

The number of borrowers experiencing financial hardship is mounting and banks have been warned to do more to help households struggling to meet repayments.

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Rural Australians left up in the air as banks shut down

Rural Australians left up in the air as banks shut down

Rural Australians left up in the air as banks shut down

Rural Australians left up in the air as banks shut down

Up to 600 Australian towns no longer have a bank, forcing country people to go to extraordinary lengths to manage their money.

Green bank unlocks cheap loans for home energy upgrades

Green bank unlocks cheap loans for home energy upgrades

Green bank unlocks cheap loans for home energy upgrades

Green bank unlocks cheap loans for home energy upgrades

Some $60 million in cheap loans is up for grabs as part of a $1 billion federal fund to encourage homeowners to install solar panels and batteries.

Households in the dark on promised $1b energy upgrade

Households in the dark on promised $1b energy upgrade

Households in the dark on promised $1b energy upgrade

Households in the dark on promised $1b energy upgrade

Households have not been forgotten for energy upgrades, the federal government insists, but they have not received a cent from $1 billion allocated in 2023.

More regulation urged for banks 'failing' rural towns

More regulation urged for banks 'failing' rural towns

More regulation urged for banks 'failing' rural towns

More regulation urged for banks 'failing' rural towns

An inquiry into rural bank closures has handed down its final report after a year of hearings and 610 written submissions. It recommends tougher regulation.

Country towns banking on branch closure inquiry report

Country towns banking on branch closure inquiry report

Country towns banking on branch closure inquiry report

Country towns banking on branch closure inquiry report

After a year of hearing from regional communities, farmers and the banking sector, the inquiry into rural bank closures is due to hand down its final report.

'Abandoning customers': lenders fail battling borrowers

'Abandoning customers': lenders fail battling borrowers

'Abandoning customers': lenders fail battling borrowers

'Abandoning customers': lenders fail battling borrowers

Mortgage stress in Australia is at its highest level since the global financial crisis but many borrowers are finding it too hard to get help from their bank.

CBA's quarterly profit down while delinquencies tick up

CBA's quarterly profit down while delinquencies tick up

CBA's quarterly profit down while delinquencies tick up

CBA's quarterly profit down while delinquencies tick up

Commonwealth Bank's quarterly profit was down while the percentage of its customers in arrears grew slightly in the March quarter.

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Super funds respond to members' calls to dump coal

Australia's superannuation funds, as long-term investors, are increasingly making decisions based on the best returns for members in a decarbonising world.

Sustainable investment must be real not faked: ASIC

The corporate watchdog wants Australia to attract sustainable investment, not scare it off, but not at the expense of well-meaning consumers and investors.

Commissioner warns of 'tech wreck' from unchecked abuse

As Australia races to retrofit laws for generative artificial intelligence, the nation's eSafety commissioner says investigators face real-life harms every day.

'Once-in-a-generation' change in corporate reporting

Smaller firms may be wary of new reporting obligations but the big end of town is calling for rapid passage of laws requiring honesty on climate-related risks.

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Australia forecast to become a carbon credit factory

Firms have been warned to be honest about the role of carbon markets in curbing climate change and biodiversity loss, with carbon credit production set to soar.

Add skills to adapt to 'new era' in climate disclosure

An online course to help firms meet obligations under new global and Australian sustainability and climate-related financial standards has opened for enrolment.

Mandatory climate reporting regime pushed out to 2025

Corporations will be covered by a climate reporting regime under new laws but not yet, as Treasurer Jim Chalmers bends to pressure from the big end of town.

Financiers shun nuclear, upbeat on climate investment

Financiers are more upbeat on climate investment as Australia charts a clearer course, but nuclear reactors are not where they want to put superannuation money.

'No care factor' as banks abandon remote communities

Business owners are having to fly with bags of cash to city banks after a remote branch closed its doors, amid reports of robberies, scams and elder abuse.

Woodside, Santos expansion less than super for funds

Some superannuation funds are reducing exposure to Woodside and Santos as members demand more climate action instead of their money bankrolling new gas fields.

CBA restores service, apologises after overnight outage

Commonwealth Bank has apologised after an outage overnight locked customers out from their accounts.

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