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Latest news: Banking

Forum seeks fix for Pacific's sinking banking services

Forum seeks fix for Pacific's sinking banking services

The driving forces behind banking services cuts in the Pacific and how to prevent a mass exodus is being investigated at an inaugural forum in Brisbane.

$1.5b data spend to simplify bank switching a 'flop'

$1.5b data spend to simplify bank switching a 'flop'

$1.5b data spend to simplify bank switching a 'flop'

$1.5b data spend to simplify bank switching a 'flop'

A banking industry-backed report says just 0.3 per cent of bank customers were actively using the data-sharing arrangements made possible by costly investments.

Bendigo and Adelaide Bank names new chief executive

Bendigo and Adelaide Bank names new chief executive

Bendigo and Adelaide Bank names new chief executive

Bendigo and Adelaide Bank names new chief executive

Chief customer officer Richard Fennell will replace veteran executive Marnie Baker as CEO and managing director of Bendigo and Adelaide Bank.

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ANZ named and shamed for charging dead clients

ANZ named and shamed for charging dead clients

The ANZ bank has been publicly named and shamed for charging fees to dead clients and ignoring requests for information from their representatives.

Greenlight for ANZ's takeover of Suncorp's banking arm

Greenlight for ANZ's takeover of Suncorp's banking arm

ANZ's multibillion-dollar deal to buy Suncorp's banking arm is full steam ahead after federal Treasurer Jim Chalmers approved the plan.

Open door for lenders on climate risks at 11m homes

Open door for lenders on climate risks at 11m homes

A data-rich tool will gauge the energy efficiency and climate profile of the nation's 11 million homes, with some already risky for mortgage lenders.

Westpac sanctioned over 'serious' bank closure breach

Westpac sanctioned over 'serious' bank closure breach

Westpac breached banking protocols when it suddenly closed an outback branch, leaving the community to rely on a local charity, an investigation has found.

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Cops, banks team up to track cash feeding child abuse

Cops, banks team up to track cash feeding child abuse

Cops, banks team up to track cash feeding child abuse

Cops, banks team up to track cash feeding child abuse

A major Australian bank has teamed up with the police to stamp out child abuse material by tracking suspicious financial transactions.

Cash still king as big business bails out Armaguard

Cash still king as big business bails out Armaguard

Cash still king as big business bails out Armaguard

Cash still king as big business bails out Armaguard

Some of Australia's biggest companies have put their money where their mouth is by stepping in to save cash carrier Armaguard in a $50 million deal.

Banks put on notice over workers' overseas remittances

Banks put on notice over workers' overseas remittances

Banks put on notice over workers' overseas remittances

Banks put on notice over workers' overseas remittances

Fixing a key issue in money transfers could provide Pacific nations with millions of extra dollars in remittances as Labor puts the big four banks on notice.

Stubborn economic challenges hang over RBA rates call

Stubborn economic challenges hang over RBA rates call

Stubborn economic challenges hang over RBA rates call

Stubborn economic challenges hang over RBA rates call

A June interest rate meeting comes as the federal government defends its budget management in an economy facing slow growth and persistent inflation.

Saving your brains for the good stuff, not 'grunt work'

Saving your brains for the good stuff, not 'grunt work'

Saving your brains for the good stuff, not 'grunt work'

Saving your brains for the good stuff, not 'grunt work'

Artificial intelligence tools can take the "grunt work" out of safeguarding vital systems against weakness and loss, according to energy companies and banks.

Crunch time for divestment of climate-harming companies

Crunch time for divestment of climate-harming companies

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.

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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.

'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

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

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

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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.

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

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 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

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

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

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.

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