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Banking

July 2024

  • Assistant treasurer Stephen Jones addresses the National Press Club

    Labor’s planned anti-scam laws are too complicated, too lenient and too slow, advocates say

  • Woman using mobile phone

    Labor vows to force banks to compensate Australians tricked out of money by scammers

  • A checkout terminal hit by IT issues is seen at a Coles store in Canberra

    Microsoft IT outage: Australian airlines, banks and supermarkets begin return to normal operations

  • A composite image of signage of Australia's 'big four' banks ANZ, Westpac, the Commonwealth Bank (CBA) and the National Australia Bank (NAB)

    Australia’s big banks lent $3.6bn to fossil fuel expansion projects in 2023, report shows

  • The bank of mum and dad is making the Australian dream of home ownership come true – for some

  • Sarah lost her savings to a ‘money mule’ scam. She says Australia’s big banks have brushed her off

  • How hard is it to live off cash alone? I tried for a weekend and this is what happened

    Jordyn Beazley

June 2024

  • A Suncorp sign

    Treasurer approves ANZ takeover of Suncorp banking arm

    Green light for merger comes with conditions including ban on closure of Queensland branches for three years
  • Westpac sign

    Westpac customers in Tennant Creek unable to buy food after ‘disastrous’ branch closure, critics say

    Banking watchdog finds Westpac committed ‘serious and systematic’ breaches when closing remote NT branch in 2022
  • Banks will also need to make mortgage-exiting forms easier for customers to find under the new changes.

    Australian banks to alert customers on interest rate moves under changes to get savers better deals

    Move comes after consumer watchdog found banks were using pricing strategies that were highly complex or took advantage of the tendency to set and forget

May 2024

  • A shopping trolley is pushed through a Woolworths

    Australia’s annual inflation rate rises to 3.6 % in April contrary to expectations

    CPI increases for second month in a row with housing and food top contributors, lessening chances of the RBA cutting interest rates in 2024
  • Sally Renfrey at her desk

    ‘It was like a lifeline’: the money clinics helping women escape financial abuse

    A ‘sneaky’ form of coercive control, financial abuse can be difficult to identify early. A small network of counsellors is helping victims navigate the complex terrain
    • When a good job is not enough: why even well-paid Australians are going over the mortgage cliff

    • ‘A long, slow burn’: more Australian households on the brink as mortgage stress rises

    • Lack of mortgage competition to hurt customers and boost Australian banks’ profits

April 2024

  • Michele Bullock

    Inflation in Australia is still stubbornly high. Will the RBA raise interest rates again?

    With hopes for a rate cut gone, there is speculation of another rise before the end of 2024. What factors will sway the Reserve Bank’s decision?
  • Matt Comyn, Innes Willox and Andrew McKellar

    Business wants pay rises for Australia’s lowest paid workers limited to 2% – but what about executives?

    Average pay of top bosses has increased from 17 times average earnings in early 90s to about 55 times now. What about those on minimum wage?
  • A piggy bank and money

    ‘Outdated and misleading’: is it time to reassess the very concept of money?

    It’s regularly being created and destroyed – and economic models that don’t reflect that fact are not even slightly useful

March 2024

  • Financial abuse copy

    Financial abuse can follow victims long after relationships end. Australian experts are calling for reform

  • Coles

    Coles resumes receiving cash deliveries after halving withdrawal limit amid fears of Armaguard collapse

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