Macquarie is among dozens of lenders to start offering slightly lower interest rates, as banks compete for fewer customers.
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The need to better protect consumers was raised years ago in the banking royal commission. So why does it feel like we are back here again?
Financial institutions are meant to have reliable payment systems in place. But more work needs to be done to ensure they do this.
The federal government has laid out a big picture proposal to keep cash alive. But it will need to keep a close eye on the details, and the unique challenges cash presents for businesses.
Class actions are a growing trend in the ways consumers access justice. That’s important, as many avenues for consumer protection are too difficult for individuals to pursue.
What happens in the government bond market might seem far removed from everyday life, but it’s important to understand how it can affect us all.
On one hand, the government has just waved through one of the biggest banking mergers of the last 20 years. On the other, they’ve been waving the big stick at Australia’s supermarket oligopoly.
By declaring cash an ‘essential service’ the government would secure its future for those Australians who still use it.
The Commerce Commission says New Zealand’s banking sector is uncompetitive. But in the rush to fix the problem, regulators need to ensure they don’t introduce risk and instability into the system.
Former Reserve Bank and Treasury chiefs have gone on to run Westpac, the National Australia Bank, the ANZ, and Macquarie Bank. It makes regulating those banks hard.
Westpac and the ANZ have suspended dividends payments. The National Australia Bank has slashed them. The peculiarities of our tax system explain why retirees hate this more than they should.
Management trumps technology in making companies productive, but that doesn’t mean firms can be complacent when it comes to keeping up with change.
The charges laid against ANZ and other banks over alleged cartel-like behaviour suggests that Australia is following the United States in cracking down on anti-competitive behaviour.
The Financial Services Royal Commission can ask the banks for the material it wants, in the form it wants.
The Australian Banking Association says ‘nearly 80% of bank profits go straight back to shareholders’, the majority of whom are ‘everyday Australians’. Is that right?
Broadening the royal commission beyond banking may dilute the focus on the banks themselves.
Appearing to co-operate is the best way to try to influence the terms of an inquiry and manage the bad press.
Even though the Prime Minister and heads of the big four banks argue costly political uncertainty is the reason for the royal commission, experts argue the banks’ behaviour itself is the real cost.
The major banks have tried to downplay their role in manipulating the BBSW interest rate benchmark. But this is not the first instance of bad behaviour.
Parliamentary hearings reveal a lot of confusion between government, regulators and industry around banking regulation. This needs to be fixed.
Top contributors
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Visiting Fellow, Macquarie University Applied Finance Centre, Macquarie University
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Adjunct Professor, Swinburne University of Technology
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Emeritus Professor of Finance, The University of Melbourne
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Senior Lecturer, Faculty of Law, University of Wollongong
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Professor of Law (consumer protections and credit law), The University of Melbourne
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Vice Chancellor's Fellow at Victoria University and Adjunct Professor of Economics, Victoria University
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Associate Professor of Finance, UNSW
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Adjunct Professor of Law, University of New England
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Senior Lecturer in Banking and Finance, The University of Queensland
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Professor in Finance and Banking, University of Sydney
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Lecturer in Politics, The University of Melbourne
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Senior Lecturer of Management and Leadership, The University of Melbourne
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Research Assistant, University of Sydney
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Professor of Finance, The University of Melbourne
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Senior Lecturer, School of Law, The University of Queensland