Cbus board appointments prompts tough talk from APRA
Superannuation

Cbus board appointments prompts tough talk from APRA

The regulator has raised doubts over whether Cbus has completed the necessary processes under its licence conditions,after the fund said three CFMEU-linked directors had passed a fit and proper persons test and would be appointed to its board.

  • bySumeyya Ilanbey

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ASIC sues NAB for ‘failing’ customers facing financial hardship
Big four

ASIC sues NAB for ‘failing’ customers facing financial hardship

The corporate regulator cited submissions from people who had left violent relationships or who had lost work during the pandemic.

  • bySumeyya Ilanbey
Can ANZ’s $2.5 billion tech bet close the gap on rivals?
Big four

Can ANZ’s $2.5 billion tech bet close the gap on rivals?

Maile Carnegie is trying to transform the bank’s technology,and oversee the movement of millions of customers to a new platform. It’s a mammoth undertaking.

  • bySumeyya Ilanbey
Cbus scandal revives ghosts of banking royal commission
Opinion
Superannuation

Cbus scandal revives ghosts of banking royal commission

The allegations against one of the country’s biggest superannuation funds is politically explosive and hugely embarrassing for one of the so-called gamekeepers of governance.

  • byElizabeth Knight
Super giant apologises for ‘unacceptable’ insurance delays
Superannuation

Super giant apologises for ‘unacceptable’ insurance delays

Appearing before a Senate inquiry on Thursday morning,Cbus chief executive Kristian Fok was grilled on a litany of scandals engulfing the embattled fund.

  • bySumeyya Ilanbey
Super funds warned over delays in assessing life insurance claims
Superannuation

Super funds warned over delays in assessing life insurance claims

ASIC believes the scale of alleged failings at $94-billion super fund Cbus are a broader industry issue,and it’s flagged there could be more “enforcement action to follow”.

  • bySumeyya Ilanbey andClancy Yeates
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Emptying the cookie jar to pay interest:Borrowers are desperate for rates to fall
Opinion
Interest rates

Emptying the cookie jar to pay interest:Borrowers are desperate for rates to fall

There are plenty of white-knuckled borrowers waiting for February in hopes the Reserve Bank will begin down the path of lowering rates. Can they make it that far?

  • byElizabeth Knight
Trump’s tariff plan to fuel global inflation,could keep rates high:CBA boss
Updated
Earnings season

Trump’s tariff plan to fuel global inflation,could keep rates high:CBA boss

Commonwealth Bank chief executive Matt Comyn said Australia’s economy is being weighed down by elevated interest rates and sticky inflation.

  • bySumeyya Ilanbey
Relax lending rules to boost mortgage competition:Bendigo CEO
Home loans

Relax lending rules to boost mortgage competition:Bendigo CEO

Bendigo’s new chief says rules that require banks to test if a customer could handle a 3 percentage point interest rate rise are “not good for competition”.

  • bySumeyya Ilanbey
Corporate regulator sues Cbus over unresolved insurance claims
Superannuation

Corporate regulator sues Cbus over unresolved insurance claims

The corporate regulator is taking the embattled construction superannuation fund to court for not processing death and disability insurance claims in a timely manner,costing its members about $20 million.

  • bySumeyya Ilanbey
Afterpay billionaires say Australia is well on its way to a cashless future
Cash

Afterpay billionaires say Australia is well on its way to a cashless future

Nick Molnar and Anthony Eisen built an empire by detecting and responding to major shifts in financial behaviour. So their views on the immediate future carry weight.

  • byClancy Yeates