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Breach reporting for credit licensees: Are you ready to dob yourself...
by • 3 Sep 2021
October 2021 sees the commencement of many new regulatory reforms for Australian credit licence holders. One of the...READ MORE
Mutuals escaping ‘vicious cycle’ in merger mania: S&P
by Sarah Simpkins • 2 Sep 2021
The rise in consolidation among mutual lenders has reflected changing attitudes from management amid escalated margin... READ MORE
Aggregators should be helping guide broker laws: Sam White
by Annie Kane • 27 Aug 2021
As well as helping brokers with compliance, aggregators should be helping “shape” legislators’ views on how new... READ MORE
SMEs need early super, says senator
by Sarah Simpkins • 26 Aug 2021
A senator has argued for reopening the superannuation vault for early withdrawals, to help small businesses suffering... READ MORE
Financial sector continues to be high cyber target
by • 26 Aug 2021
The financial services sector had the second-highest number of data breaches between January-July and is increasingly... READ MORE
Government unveils draft reforms for unfair contract terms
by Sarah Simpkins • 24 Aug 2021
The government has released a draft bill aiming to combat unfair contract terms, with proposed changes including the... READ MORE
Parliamentary committee to probe housing affordability
by Sarah Simpkins • 17 Aug 2021
A parliamentary committee is calling for submissions for a new inquiry into housing affordability and supply in... READ MORE
ASIC to be ‘reasonable’ in enforcing new laws
by Annie Kane • 13 Aug 2021
The regulator will take a “reasonable approach” when enforcing the swathe of incoming financial services laws,... READ MORE
MFAA welcomes DDO changes
by Annie Kane • 13 Aug 2021
The broker association has welcomed Treasury’s move to amend mortgage broker obligations under the design and... READ MORE
Treasury to amend DDO requirements
by Annie Kane • 12 Aug 2021
The government will change broker obligations under the design and distribution obligations regime, following... READ MORE
ASIC reveals frozen credit licences, overturned conviction
by Sarah Simpkins • 11 Aug 2021
ASIC has made 24 cancellations and suspensions of Australian credit licences during the first half of the year, as an... READ MORE
Calls for aggregator inclusion in new CDR
by Malavika Santhebennur • 10 Aug 2021
The Loan Market Group has called for more clarity around the role of aggregators in the new CDR proposal, and urged... READ MORE
Association working to ‘fix’ reference checking laws
by Annie Kane • 5 Aug 2021
The MFAA has been working with Treasury to “fix” reference checking legislation and make other incoming regimes... READ MORE
House price growth at 17-year high: CoreLogic
by Malavika Santhebennur • 3 Aug 2021
Home values grew by 16.1 per cent in the past year, the fastest pace of growth since 2004, but growth has slowed,... READ MORE
Governments extend COVID support to NSW, Vic
by Sarah Simpkins • 29 Jul 2021
The state and federal governments have offered support packages to businesses across NSW and Victoria, as Sydney has... READ MORE
Banks accused of bias against BNPL in lending process
by Sarah Simpkins • 28 Jul 2021
An executive from buy now, pay later provider Zip has echoed reports from brokers around how banks treat home loan... READ MORE
Millennials call for more housing regulation
by Malavika Santhebennur • 28 Jul 2021
A survey has revealed that almost three-quarters of Millennials said they believe the housing market needs more... READ MORE
ASIC levy reflects ramped up enforcement: FBAA
by Sarah Simpkins • 27 Jul 2021
ASIC’s raised industry funding levies reflect higher enforcement against brokers and could add to other increasing... READ MORE
Westpac fundies cop $3m penalty over fees for no service
by Sarah Simpkins • 27 Jul 2021
The Federal Court has imposed civil penalties totalling $3 million against two Westpac investment businesses, for... READ MORE
ASIC releases reference checking protocol for mortgage brokers
by Annie Kane • 20 Jul 2021
The financial services regulator has released its protocol and guidance documents to help credit licensees comply with... READ MORE
MyBudget scrambles for AFS licence after ASIC probe
by Sarah Simpkins • 20 Jul 2021
Budgeting provider MyBudget has applied for an Australian financial services licence, after a recent ASIC... READ MORE
AMP dodges criminal charges in fees-for-no-service investigation
by Sarah Simpkins • 19 Jul 2021
ASIC has decided to end an investigation into alleged criminal conduct by an AMP financial advice business, relating to... READ MORE
Government releases new compensation legislation for consultation
by Annie Kane • 16 Jul 2021
The Morrison government on Friday released exposure draft legislation to establish the compensation scheme of last... READ MORE
APRA urged to consider business loans in banking review
by Sarah Simpkins • 16 Jul 2021
The small business ombudsman has argued that APRA needs to better support new entrants to the banking industry, in... READ MORE
Nectar teams with credit repair agency
by Sarah Simpkins • 13 Jul 2021
Franchise brokerage Nectar Mortgages has partnered with credit repair agency Clear Credit Solutions, as the pair has... READ MORE
Banks explain lagging turnarounds to Parliament
by Sarah Simpkins • 8 Jul 2021
Big four and non-major banks have given their reasons for delayed turnarounds for the broker channel, which vary from... READ MORE
Loan fraud is greatest AML/CTF risk to non-banks: AUSTRAC
by Annie Kane • 7 Jul 2021
Loan application and identity fraud are the main threats to non-banks, the government agency has concluded, noting the... READ MORE
Debt management ACL regime begins
by Malavika Santhebennur • 7 Jul 2021
ASIC has warned debt management firms, who are now require to hold an ACL, that it is closely monitoring compliance... READ MORE
RBA delivers first rate decision for FY21-22
by Malavika Santhebennur • 6 Jul 2021
The RBA has announced its decision for the official cash rate for July, as well as changes to strategies around its... READ MORE
‘Responsible lending’ issues among top consumer complaints
by Annie Kane • 6 Jul 2021
Credit cards and home loan issues were the most complained-about products in financial year 2021, with responsible... READ MORE
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