• 29/10/2020

Category: Regulatory Changes

ASIC to appeal “steak and shiraz” ruling

Melanie Mingas| Australian Broker| 11 September 2019 https://www.brokernews.com.au/news/breaking-news/asic-to-appeal-steak-and-shiraz-ruling-266153.aspx ASIC has filed an appeal with the Full Federal Court of Australia after its responsible lending case against Westpac was dismissed during court proceedings last month. The…

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‘It’s just too hard’: ANZ CEO laments credit scrutiny

Charbel Kadib| Mortgage Business| 14 August 2019 https://www.mortgagebusiness.com.au/breaking-news/13706-it-s-just-too-hard-anz-ceo-laments-credit-scrutiny ANZ will maintain a conservative approach to mortgage lending until the industry receives further clarity from regulators, CEO Shayne Elliott has said. Speaking at Aussie Home Loans’…

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ASIC loses landmark case against Westpac

Tim Boyd| Australian Financial Review| 13 August 2019 https://www.afr.com/companies/financial-services/asic-loses-landmark-case-against-westpac-20190813-p52ggy In a landmark case for responsible lending, the Federal Court has dismissed allegations against Westpac, brought by the corporate regulator, that it breached responsible lending laws…

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AFCA delivers $83m win for consumers and small business

AFCA delivers $83m win for consumers and small business

AFCA Media Release 15 July 2019 https://www.afca.org.au/news/media-releases/afca-delivers-83m-win-for-consumers-and-small-business/ Australian consumers and small businesses with financial complaints have collected over $83 million through the Australian Financial Complaints Authority (AFCA) in its first six months of operations. AFCA’s Six…

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RBA signals June rate cut

RBA signals June rate cut

Matthew Cranston | The Australian Financial Review | 21 May 2019 https://www.afr.com/news/economy/rba-signals-june-rate-cut-20190519-p51p12 Reserve Bank of Australia governor Philip Lowe has given his clearest signal yet that interest rates will be cut next month, suggesting that…

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Property’s bumper policy week will lift house prices soon

Property’s bumper policy week will lift house prices soon

James Frost & John Kehoe | The Australian Financial Review | 20 May 2019 https://www.afr.com/real-estate/residential/property-s-bumper-policy-week-will-lift-house-prices-soon-20190524-p51qpk A suite of favourable policy proposals and drivers of property demand that materialised this week will not be enough to…

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‘People are ringing for appraisals’: Agents feel post-election pickup

‘People are ringing for appraisals’: Agents feel post-election pickup

Michael Bleby & Tim Boyd | The Australian Financial Review | 23 May 2019  https://www.afr.com/real-estate/residential/people-are-ringing-for-appraisals-agents-feel-post-election-pickup-20190523-p51qde Sydney’s housing market has welcomed the end of the federal election campaign, with vendors and buyers shaking off the uncertainty…

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APRA scraps 7pc home loan buffer

APRA scraps 7pc home loan buffer

James Frost | The Australian Financial Review | 21 May 2019 https://www.afr.com/business/banking-and-finance/apra-scraps-7pc-home-loan-buffer-20190521-p51phr The Australian Prudential Regulation Authority has written to banks proposing the 7 per cent serviceability buffer on home loans be removed, in good…

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Hallelujah: Brokers rejoice over Coalition win

James Frost & John Kehoe | The Australian Financial Review | 20 May 2019 https://www.afr.com/business/banking-and-finance/hallelujah-brokers-rejoice-over-coalition-win-20190520-p51p78 Mortgage brokers are celebrating the re-election of the Coalition and the salvation of valuable trailing commissions that were poised to…

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Phil Lowe’s finger hovering above rate cut button

Karen Maley | The Australian Financial Review | 10 May 2019 https://www.afr.com/business/banking-and-finance/phil-lowe-s-finger-hovering-above-rate-cut-button-20190510-p51m0d Australia is set to see interest rates hit fresh historic lows in coming months, unless strong jobs market and rising commodity prices come…

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