As the number of customers falling behind on their repayments rises,the watchdog says too many people in hardship are finding it hard to get help.
Members of one of the nation’s largest superannuation funds have regained access to their funds,but there are new questions about the Australia’s reliance on three US tech giants.
As prices continue to increase,new data shows persistent cost-of-living pressures are making households re-evaluate their shopping lists.
“I cannot believe we were this stupid,” read the message to Jon Waldron shortly before Christmas 2014. Within days,he had been sacked from the Commonwealth Bank.
The judge found even though Commonwealth Bank was aware of problems before AUSTRAC’s 2017 case,it had not breached continuous disclosure obligations.
This season was not one that banks will be crowing about – all experienced a fall in profits and the themes were remarkably similar.
The country’s biggest bank has reported its net profit slid by 3 per cent as CEO Matt Comyn said the strong immigration rate was helping the Australian economy remain resilient.
Despite continued pressure on bank profit margins,analysts expect the big four to post relatively resilient earnings over the next two weeks.
Consumers have been struggling with high inflation,interest rates and tax for months – but there are signs the pressure on shoppers is moderating.
Bank margins will continue to dwindle in the first half of this financial year,analysts say,as customers move their savings into higher-interest offerings.
The bosses of major banks have backed calls for federal elections to be held every four years instead of three to provide more certainty for business.