Today
CBA’s Matt Comyn loses his right-hand man, the meticulous David Cohen
Over 15 years at the bank, David Cohen has seen it all. On his retirement, he provides a potted history of CBA’s numerous troubles and its transformation.
- James Eyers
This Month
- Opinion
- Financial planning
Safer, simpler financial advice to deliver the best outcomes for all
While we have been pretty effective at protecting Australians from bad advice, we have also protected them from good advice. This is now going to change.
- Stephen Jones
Banks, insurance, super win financial advice relief
Financial institutions will be able to give personal advice to customers at scale, with Labor announcing wind back of rules which followed Hayne royal commission.
- Hannah Wootton
Anti-bank activist Geoff Shannon gets one over ASIC
After four days of hearings spread across 10 months, the regulator’s case failed, Magistrate Mark Bamberry judging its investigation as less than thorough.
- Updated
- Myriam Robin
September
The UK answer to the banks’ regulation strangulation problem
Peter King and Anna Bligh met Jim Chalmers to call for a high-level planning scheme to force legislators and regulators to sequence compliance demands.
- James Eyers
PayPal targeted by ASIC for contract clause letting it keep wrong fees
The corporate regulator sued PayPal in the Federal Court alleging an unfair clause that let it hold on to overcharged fees if errors weren’t notified to it.
- James Eyers
ASIC sues Westpac for failing to respond to 229 hardship requests
The regulator alleges the bank breached the National Credit Code and Corporations Act for ignoring hundreds of pleas for help from struggling customers.
- James Eyers
August
Over-regulation strangling smaller bank competition: Bligh
The ABA chief told the House economics committee 130 different regulatory changes are in train over the next 12 to 18 months.
- Lucas Baird and James Eyers
- Opinion
- Chanticleer
Ghosts of the past are haunting AMP’s future
The decision to pause a $350 million capital return because of royal commission-era legal cases shows the company is still fighting for clear air on its growth plans.
- James Thomson
What Cameron Clyne is doing now (it involves AI and bad bank culture)
The former NAB boss is advising a start-up selling compliance software to banks, so they can monitor staff communications and report to regulators.
- James Eyers
Labor inaction leaves customers wasting money on insurance
The delays by Stephen Jones are leaving Australians stranded in unnecessarily expensive life insurance products or without cover they need, industry warns.
- Hannah Wootton
July
- Opinion
- Chanticleer
Why NAB’s departing CFO says a big test is coming for banks
Gary Lennon is part of a retiring generation of bank bosses for whom the lessons of the GFC and royal commission burn bright.
- James Thomson
Ombudsman David Locke ‘deeply concerned’ about rising bank complaints
New AFCA data shows nearly 100,000 financial services customers lodged complaints over the past year, up 34pc, as the cost-of-living crisis bites.
- James Eyers
- Analysis
- Executive shake-up
Jason Yetton stages one of greatest comebacks in Australian banking
As he takes the reins of Westpac’s retail bank again – a position he held under Gail Kelly – the former rising star will dig deep to fix a range of problems.
- Updated
- James Eyers
CBA’s former wealth arm settles class action for $100m
If approved by the court, the Colonial First State settlement will be the highest ever obtained by plaintiff law firm Slater and Gordon in a class action.
- Hannah Wootton
June
Australian banks face the wrath of New Zealand’s competition regulator
The growing political pressure on lenders has been bubbling away for the past year. Now they face a probe from the country’s commerce commission.
- James Eyers
May
- Exclusive
- Class action
Banking royal commission silk enlisted for Insignia lawsuit
Barrister Michael Hodge KC, who in 2018 was counsel assisting the Hayne royal commission, will act for the wealth giant’s aggrieved shareholders.
- Updated
- Aleks Vickovich
- Opinion
- Chanticleer
BoQ’s embarrassing back-to-the-future risk failure
Bank of Queensland CEO Patrick Allaway has serious questions to answer as to how risk management shortcomings were allowed to fester for years.
- James Thomson
Conflicts of interest, poor culture plague finance sector: Hayne
A call to action by former banking royal commissioner Kenneth Hayne comes as the PwC scandal rocks corporate Australia and parliament, mirroring problems in the financial services sector four years ago.
- Hannah Wootton and James Eyers
Unhappy Banking’s Geoff Shannon and his aborted media venture
A now-cancelled corporate vehicle briefly tied together the banking activist with ex-Fairfax journalist Michael West.
- Myriam Robin
