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Latest news: Banking

Banks at odds over easing lending restrictions

Banks at odds over easing lending restrictions

Easing lending requirements so more first homebuyers can get a mortgage has received mixed reviews, with warnings more borrowers would face crippling debt.

CBA reverses duplicate transactions, vows fee refunds

CBA reverses duplicate transactions, vows fee refunds

CBA reverses duplicate transactions, vows fee refunds

CBA reverses duplicate transactions, vows fee refunds

The Commonwealth Bank has fixed a problem that caused repeated transactions for some customers as it promises to refund any fees.

It's not you: banking outages are taking longer to fix

It's not you: banking outages are taking longer to fix

It's not you: banking outages are taking longer to fix

It's not you: banking outages are taking longer to fix

Digital payment services are under increasing pressure as Aussies ditch cash and they are mostly rising to the task, a Reserve Bank report has found.

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CBA apologises, pays $7.5m fine after spam emails

CBA apologises, pays $7.5m fine after spam emails

Commonwealth Bank has been penalised after sending 170 million emails to customers with no way to unsubscribe.

Financial regulations are 'punishing' first homebuyers

Financial regulations are 'punishing' first homebuyers

Overbearing financial requirements placed are worsening housing equity by making it harder for first homebuyers to access mortgages and benefiting investors.

CBA chair says ethical principles will govern AI use

CBA chair says ethical principles will govern AI use

Commonwealth Bank has the "best, most capable people" working on the use of artificial intelligence in its business, chairman Paul O'Malley says.

'Climate action pays': call to rev up clean investment

'Climate action pays': call to rev up clean investment

There can be winners in the clean energy race, a group of super funds says, rolling out a campaign to quell community fears and accelerate development.

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Debit card surcharges could be scrapped in crackdown

Debit card surcharges could be scrapped in crackdown

Debit card surcharges could be scrapped in crackdown

Debit card surcharges could be scrapped in crackdown

Surcharges on debit card purchases could become a thing of the past by 2026, but some groups are warning the fees could be imposed in other ways.

Win for banks over fugitive's 'audacious' $500m fraud

Win for banks over fugitive's 'audacious' $500m fraud

Win for banks over fugitive's 'audacious' $500m fraud

Win for banks over fugitive's 'audacious' $500m fraud

Westpac and two other banks can recoup funds taken through a $500 million fraud perpetrated by a fugitive former football club owner and his associates.

'Fragile' fraudster tries to delay inevitable jail-time

'Fragile' fraudster tries to delay inevitable jail-time

'Fragile' fraudster tries to delay inevitable jail-time

'Fragile' fraudster tries to delay inevitable jail-time

Three people caught trying to cheat National Australia Bank out of $21 million want to stay out of jail for a few more months ahead of their sentencing.

Labor, expert lash 'crazy' call to step in over rates

Labor, expert lash 'crazy' call to step in over rates

Labor, expert lash 'crazy' call to step in over rates

Labor, expert lash 'crazy' call to step in over rates

Calls for Canberra to intervene with the Reserve Bank to lower interest rates to get financial reforms over the line have been rejected by Labor.

Trio convicted of $21m fraud plot against NAB

Trio convicted of $21m fraud plot against NAB

Trio convicted of $21m fraud plot against NAB

Trio convicted of $21m fraud plot against NAB

Three people, including a former NAB branch senior associate, have been convicted of a multimillion dollar fraud scheme against the bank.

Battle of Kim and Goliath as bank closes amid loophole

Battle of Kim and Goliath as bank closes amid loophole

Battle of Kim and Goliath as bank closes amid loophole

Battle of Kim and Goliath as bank closes amid loophole

A NSW town will lose its ANZ branch because it isn't considered regional, just months after the bank committed to keep country locations open for three years.

Emerging markets could miss out on AI wins: World Bank

Emerging markets could miss out on AI wins: World Bank

Emerging markets could miss out on AI wins: World Bank

Emerging markets could miss out on AI wins: World Bank

Artificial intelligence may not necessarily make the fight against inequality any easier, the World Bank president has said during an Australian visit.

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New fear unlocked: unemployment worries grip consumers

Consumers are becoming more concerned about the sluggish economy and what this could mean for jobs, with cost-of-living becoming a lower order worry.

Westpac names business and wealth head as next CEO

Westpac says Anthony Miller will succeed Peter King who is retiring as chief executive officer and managing director after three decades with the bank.

Housing sustainability framework stands up to scrutiny

With one in seven forecast to be living in community housing within decades, a review finds foundations are in place as pressure builds for broader standards.

Plague of our time: banks devoting more to scam fight

Australia's big four banks say they're setting aside more resources to prevent customers being scammed out of their money.

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No cost to taxpayers from bond scandal: ANZ head

There will be consequences across ANZ following the misconduct of employees over bonds, the company's head says.

Red-letter day for AusPost as big rivals dog deliveries

Australia Post expects dog attacks to reduce as a fleet of stealthy electric delivery vehicles grows, but warns of more work to be done to turn a profit.

Bank chiefs don't rate a quick end to costs crunch

Interest rates might have reached their peak but the head of Westpac says many households are still grappling with tight budgets.

Bendigo Bank profit falls but assets still healthy

Regional lender Bendigo and Adelaide Bank says mortgage holders are keeping ahead of repayments and expects conditions to improve for borrowers next year.

Climate disclosure for companies to support investment

The largest companies and financial institutions must account for climate and nature-based risks from January, which experts say will support investment.

Cashless community still needs access to notes, coins

Cash may no longer be king but those who want to use it to buy a coffee or store wealth should be able to do so, the nation's payments tsar says.

Building costs in the frame for ongoing housing crisis

The Reserve Bank says it is closely monitoring the housing shortage, but dismisses reports a construction union is to blame for escalating costs.

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