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Latest news: Credit and Debt

Loan defaults bad for business as NAB profit takes hit

Loan defaults bad for business as NAB profit takes hit

Business lending is growing for NAB but so is the level of bad debt from that customer segment, pumping the brakes on profits at the big four bank.

Timeline set for easing of student debt burden

Timeline set for easing of student debt burden

Timeline set for easing of student debt burden

Timeline set for easing of student debt burden

Some three millions Australians carrying a student debt will enjoy a 20 per cent reduction in what they owe before Christmas.

US to support Argentina with $20b rescue plan: Bessent

US to support Argentina with $20b rescue plan: Bessent

US to support Argentina with $20b rescue plan: Bessent

US to support Argentina with $20b rescue plan: Bessent

The US plans to extend a $US20 billion swap line to Argentina and is ready to buy the country's foreign bonds.

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Crunch time for Star despite narrowing full-year loss

Crunch time for Star despite narrowing full-year loss

Uncertainty continues to swirl around Star Entertainment Group's future after the struggling casino operator posted another significant full-year loss.

Postie banks on stolen cards for $1.4 million delivery

Postie banks on stolen cards for $1.4 million delivery

Bank customers in well-to-do suburbs have been swindled after a postal worker allegedly earmarked envelopes with credit cards and handed them to associates.

HECS debt relief nears as Labor eyes further uni reform

HECS debt relief nears as Labor eyes further uni reform

University students and graduates will soon save up to $1300 a year as the government's HECS relief bill reached an important milestone.

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.

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Cafes, small businesses fear brunt of surcharge cut

Cafes, small businesses fear brunt of surcharge cut

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.

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.

Big bite on spending swallows up hospitality businesses

Big bite on spending swallows up hospitality businesses

Big bite on spending swallows up hospitality businesses

Big bite on spending swallows up hospitality businesses

A record-high 9.4 per cent of food service and hospitality businesses shut their doors in the year to March as cost pressures weighed heavily on households.

Credit rating outlook downgrade rests in state's hands

Credit rating outlook downgrade rests in state's hands

Credit rating outlook downgrade rests in state's hands

Credit rating outlook downgrade rests in state's hands

A state government can fix a credit rating outlook downgrade in its first budget after an international agency identified "significant fiscal deterioration".

Steelworks forced into administration to 'save' future

Steelworks forced into administration to 'save' future

Steelworks forced into administration to 'save' future

Steelworks forced into administration to 'save' future

South Australia has ended months of uncertainty over a critical steelworks by placing the plant into administration.

'No-brainer' home ownership boost for HECS debt Aussies

'No-brainer' home ownership boost for HECS debt Aussies

'No-brainer' home ownership boost for HECS debt Aussies

'No-brainer' home ownership boost for HECS debt Aussies

Australians saddled with student debt who want to enter the housing market will be given a helping hand, under changes to lending requirements.

Surge in number of Australians seeking debt help

Surge in number of Australians seeking debt help

Surge in number of Australians seeking debt help

Surge in number of Australians seeking debt help

Australians are struggling with the mounting cost of living, with the National Debt Helpline fielding a significant increase in calls.

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Slow economic growth set to continue into 2025

While there may be a slow uptick in economic growth in the near future, it will remain subdued into the 2025, a survey has predicted.

LNP drum up support after dancing around costings

The Queensland opposition has drummed up interest for its youth crime prevention measures after being accused of dancing around costings ahead of the election.

Chips are down as Star posts huge loss, cashes in jobs

Star Entertainment has written down the value of its three casinos by $1.4 billion as its new CEO plots a path to turn around the fortunes of the company.

Suburban Rail Loop cash gap may threaten credit rating

Global agency S&P has warned Victoria's credit rating could dive further if the state is forced to foot the rest of the bill for the Suburban Rail Loop.

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Call for ad ban on easy credit for groceries, medicines

A popular form of credit to encourage online shopping has morphed into a crutch for trying to stay a step ahead of financial disaster, an inquiry has been told.

Amex fined $8m over unsuitable David Jones credit cards

American Express will have to pay an $8 million fine after offering co-branded David Jones credit cards without ensuring they were appropriate for customers.

Buy now, pay later laws introduced to shield vulnerable

Buy now, pay later loan providers will soon be subject to regulations aiming to protect at-risk Australians from financial harm.

Reform call as student debt hiked by thousands of bucks

Those with student debts will have their outstanding amount increased due to indexation but changes to the scheme will reduce the balance later this year.

ASIC victory in four-year pursuit of high-fee lenders

Two Gold Coast lenders could face hefty fines after charging over $70 million in fees for less than half that amount in loans issued without a credit licence.

ATO to name and shame businesses over unpaid debts

The tax office is coming after businesses owing more than $100,000 by threatening to name and shame them in a bid to recoup more than $5 billion it is owed.

'Choked on my Weeties': Pallas dismisses Vic debt sum

Treasurer Tim Pallas is confident a credit rating downgrade isn't on the horizon for Victoria despite a major global agency's debt forecast.

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