Banking and Credit
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Solving corporate governance needs more than deck chair rearranging
Andrew Linden | July 8, 2018Splitting company boards and allowing employees to elect board members are just the start of the reforms needed to fix corporate governance.
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Firms warned not to overcharge for card payments
First 5000 | July 6, 2018Firms are being warned not to rort their customers by overcharging for the use of credit cards.
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Australia behind the eight ball on accessible capital for small business
First 5000 | July 1, 2018The Small Business Ombudsman has released the results on an inquiry into international and national initiatives to boost the supply of capital to SMEs.
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Criminal charges against banking cartels show Australia is getting tough on competition law
Barbora Jedlickova | June 10, 2018It is still early days for Australia in terms of tracking down and punishing examples of cartel behaviour via criminal prosecutions. But the latest developments suggest that Australia is prepared to follow the example of the United States.
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Getting a business loan is hard enough
First 5000 | May 26, 2018The Council of Small Business Organisations of Australia (COSBOA) has expressed concern that small business lending could become more difficult as a result of reaction to the current Banking Royal Commission hearings.
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Can we bank on the future of financial services?
First 5000 | May 15, 2018IBISWorld outlines the anticipated effects of the Royal Commission on banks and other financial institutions, shareholders and customers.
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Executive rituals and enforcement reality
Clinton Free | May 3, 2018Officers below board level are increasingly coming into the crosshairs of the the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, but it remains to be seen what punishments will be handed down if crimes are deemed to have taken place.
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Bad behaviour in Australia’s banking sector
Kevin Davis | April 19, 2018The Royal Commission on banking misconduct is uncovering a litany of poor behaviour by the nation’s banks, but will meaningful reforms create a better deal for their long suffering customers?
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Australian SMEs turn to Fintech
Kathryn Britt | March 26, 2018More SMEs are using alternative sources of finance and growth oriented SMEs are five times more likely than steady or declining firms to look for non-bank lending options.
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SME revenue on the ‘up’ escalator
Kathryn Britt | March 21, 2018The latest Scottish Pacific SME Growth Index, which polls small to medium business leaders across Australia, shows more than half are forecasting positive revenue growth in 2018.
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Smaller firms should check their bank for unfair credit terms
Kate Carnell | March 17, 2018The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, has welcomed the unfair contract terms and small business loans report released by the Australian Securities and Investments Commission (ASIC).
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Federal Treasurer welcomes new payment system
Scott Morrison | February 14, 2018The Turnbull Government has welcomed the launch of a new financial platform which should revolutionise the payments process for millions of Australians, making payments faster and simpler for consumers and businesses alike.
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Australia’s new payment system goes live
First 5000 | February 13, 2018Australia’s new payment system should offer a fast, rich and versatile method to ease transactions between businesses and customers.
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ANZ refunds $10 million to ‘Business One’ credit card holders
First 5000 | February 13, 2018The ANZ bank will refund $10.2 million to 52,135 business credit card accounts, after it failed to properly disclose fees and interest charges.
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Delivering Australians a better deal on their loans
Scott Morrison | February 10, 2018New rules to give bank customers control over their data from July 2019 should disrupt the major banks’ stranglehold on credit information and encourage a new wave of fintech innovation.