Hayne fallout
Breaking
Banking royal commission
Million-dollar fines dumped after bankers raised ‘legitimate concerns’
Laws introducing fines for dodgy finance executives have been shelved after several bank bosses expressed their surprise and disappointment.
- by Rachel Clun
Latest
Million-dollar fines for ‘dodgy’ bankers
Banking executives will cop fines of up to $1.1 million if they turn a blind eye to the kind of misconduct uncovered by the Hayne royal commission.
- by Rachel Clun
ASIC lays out ground rules on corporate compensation
The corporate regulator has warned companies against dragging the chain on remediating customers, having overseen at least $5.6 billion in compensation to victims of dodgy financial practices over the past six years.
- by Simone Fox Koob
ASIC warns life insurers over ‘unwarranted’ surveillance
The watchdog has raised concerns that insurers may have been unnecessarily putting customers who are making mental health claims under surveillance.
- by Clancy Yeates
Arrogant, insular, ignorant: Commonwealth Bank chief reflects on bank’s past failings
CBA boss chief Matt Comyn says the bank’s success led to complacency, ignorance and arrogance within its ranks.
- by Simone Fox Koob
‘Serious failure of corporate governance’: Former CBA subsidiary fined $1.71m after charging dead people fees
A total of 499 dead members were charged almost $700,000 in adviser service fees by Avanteos Investments Limited.
- by Simone Fox Koob
‘Outrage and mania’: Former NAB chair Ken Henry slams business leaders, politicians
Ken Henry has revealed a litany of failures at the bank while delivering a scathing assessment of Australia’s stakeholder capitalism.
- by Charlotte Grieve
What will happen to house prices after the election?
After the 2019 federal election, house prices lifted. This time, a downturn is far more likely, with interest rate rises predicted to hit mortgage holders.
- by Melissa Heagney
Opinion
Big four
Mary of the quiet generation demands to be heard as banks close doors
As branch closures accelerate, a generation of bank customers is left behind and forgotten. Here is one member of the quiet generation who won’t stay silent.
- by Tony Wright
Property sales to foreigners down as new type of buyer emerges
New figures have revealed foreign home buyer numbers are down, but those who were buying were most likely to stay in Australia.
- by Melissa Heagney
Updated
Westpac Banking Corporation
Westpac’s King vows to ‘stay the course’ as bank faces $113m in fines
Westpac chief executive Peter King has vowed to deal with widespread compliance problems by pushing ahead with a cultural overhaul.
- by Clancy Yeates