Australian Car Finance News

Commonwealth Bank changes ads following ASIC concern - Jan 16, 2012
The Commonwealth Bank of Australia has agreed to change some of its advertised loan comparison rates after concerns were raised by the Australian Securities and Investments Commission (ASIC)...

Inflation fall strengthens case for rate cuts - Dec 06, 2011
A leading unofficial measure of inflation eased last month due to falling food and fuel prices, strengthening the case for interest rate cuts next year...

Reserve Bank cuts domestic growth outlook - Nov 07, 2011
The Reserve Bank of Australia (RBA) has cut its forecast for economic growth and inflation in its latest quarterly report card...

ASIC moves on consumer credit insurance - Oct 21, 2011
The Australian Securities and Investments Commission (ASIC) has moved to provide further guidance for banks, credit unions and building societies offering consumer credit insurance (CCI) to improve their practices and reduce the risk of miss-selling...

Government cracks down on payday lenders - Sep 04, 2011
The Government has moved to place limits on the fees payday lenders can charge to 'small amount' borrowers, inviting comment on draft legislation...

Bank switching plan gets industry tick - Aug 22, 2011
The Federal Government's plan to make switching banks easier has been welcomed by the banking industry and consumer groups...

Householders reducing debt in uncertain times - Jun 07, 2011
The latest West Australian consumer confidence survey reveals local households are saving more and getting rid of debt...

Banks cancel cards over potential security breach - May 30, 2011
All major banks have blocked, restricted or cancelled what totals thousands of credit cards in response to a potential security breach...

Reserve isolated in tackling global inflation challenge - May 18, 2011
The Reserve Bank has again emphasised its role is to tackle inflation in the broader economy, leaving government policymakers to address the challenges of a two- or three-speed economy...

Rates could rise next month: economists - May 09, 2011
Two major banks have shifted their forecasts for the next official interest rate rise forward to next month...

Credit reforms open for consultation - Mar 09, 2011
Amendments to the National Consumer Credit Protection Act 2009 will give effect to some of the reforms announced as part of the Government’s Fairer, Simpler Banking policy and are now open for consultation...

EFTPOS announces fee reversal - Mar 09, 2011
The company that runs the EFTPOS electronic transaction system is planning to introduce a new fee structure before the end of the year...

ANZ looks to growth in Asia - Feb 21, 2011
ANZ says its 27 per cent rise in quarterly profit is partly due to an expanding customer base both domestically and in its key markets in Asia...

Switch to portable bank accounts not easy - Jan 24, 2011
A federal parliamentary inquiry into banking competition has heard that introducing portable bank account numbers is likely to require significant changes to the system...

Govt, banks and insurers act - Jan 17, 2011
The Federal Government, in consultation with the banks, insurers and some elements of the financial services industry, has acted to remove some of the red tape and fees and charges likely to affect businesses affected by the floods in Queensland and elsewhere in Australia...

Dollar to stay high in 2011 - Jan 04, 2011
Economists are expecting the Australian dollar will continue to rise this year and should hover around parity with the greenback for several months...

RBA and APRA agree to banking liquidity framework - Dec 21, 2010
The Reserve Bank of Australia (RBA) and the Australian Prudential Regulation Authority (APRA) have agreed to help authorised deposit-taking institutions (ADI) adhere to new liquidity requirements...

Forecaster slams RBA's premature rate rise - Dec 08, 2010
An economic forecaster says the Reserve Bank may have been too hasty in raising interest rates last month, because many parts of the economy are still experiencing very tough conditions...

Bank customers urged to switch and ditch - Dec 06, 2010
The year might be winding down in the lead-up to Christmas, but the heat is intensifying for Australia's big four banks...

Frustration continues for NAB customers - Nov 29, 2010
The National Australia Bank says it cannot promise that thousands of customer accounts will be restored by the end of today...

Coalition moves to boost bank competition - Nov 22, 2010
The Federal Opposition will introduce a private member's bill today aimed at increasing competition in the banking sector...

US sues American Express - Oct 06, 2010
The United States government has filed a lawsuit against credit card company American Express for allegedly imposing unfair restrictions on merchants who accept its cards...

Reverse mortgages: badly judged or just misunderstood? - Sep 07, 2010
Reverse mortgages are often condemned as risky and complex financial products. Consumers have very little understanding of these retirement solutions and what they can offer and many financial planners have generally given them a wide berth, opting instead to concentrate on an investment portfolio that focuses on wealth generation rather than retirement planning...

Westpac cautious on outlook - Aug 24, 2010
Westpac Group recorded a solid June quarter with cash earnings totalling $1.4 billion, despite slightly decreased earnings when compared to the previous quarter...

RBA chief calls for 'less exciting' finance - Aug 18, 2010
The governor of the Reserve Bank, Glenn Stevens, has issued a cautionary note on regulation of the financial sector at a speech at the University of Western Australia...

Labor outlines credit card changes - Aug 16, 2010
The Federal Government has promised new measures to protect credit card holders against being ripped off...

Govt action needed to end bank 'stranglehold' - Aug 12, 2010
Consumer groups say the Commonwealth Bank's record $5.7 billion profit is evidence the Federal Government needs to step in to improve competition...

NAB profit up, rates on hold for now - Aug 11, 2010
National Australia Bank's cash earnings for the June quarter were approximately $1.1 billion.

It says the result was largely consistent with average quarterly earnings over the first half of the 2010 financial year...

HSBC pushes into Australian SME market - Aug 09, 2010
HSBC Bank Australia has announced a major push into Australia’s business banking market with a transactional banking offering and international products and services targeting Australia’s internationally oriented small to medium enterprises (SMEs)...

Banks push loans to unemployed: report - Aug 09, 2010
You might expect the global financial crisis to have made banks more cautious when it comes to issuing debt, but a new report says Australia's banks are aggressively pushing debt onto low income earners and even the unemployed...

FOS alternative emerges - Jul 26, 2010
A large but relatively unfamiliar external dispute resolution (EDR) scheme has emerged as a competitor to the Financial Ombudsman Service (FOS)...

Record profits say it all - Jul 23, 2010
Big banks like to deflect criticism from those who question their massive profits and fee-gouging ways by playing the ''bank bashing'' card...

NAB in British mortgage blunder - Jul 23, 2010
THOUSANDS of National Australia Bank's British customers have been hit with higher monthly payments after the bank miscalculated repayments for some variable and tracker-style mortgages...

Bank rules threaten growth, warns RBA - Jul 21, 2010
THE Reserve Bank has warned that tough global regulation planned for banks threatens to constrain the pace of economic growth by driving up borrowing costs for business and home owners...

Tier-two lenders still do it tough: GE Capital - Jul 19, 2010
SMALLER lenders still find it harder to obtain funding than do the big banks, says the tier-two money lender GE Capital...

Bias towards home lending hurts SMEs - Jul 19, 2010
The bias of the Australian banking system towards home lending could prove detrimental to the financial system and economy, according to the National Australia Bank's group executive for business banking, Joseph Healy...

Home bank becomes the one with best lending deal - Jul 14, 2010
THE financial crisis has reshaped the way Australia's biggest companies view their banks, with allegiances switching to those that have money to lend...

Banks to cool on rate rises until after poll - Jul 13, 2010
BANK executives are among those hoping for an early federal poll, with many lenders feeling the squeeze of rising funding costs but unwilling to raise mortgage rates during an election campaign...

Cutting credit is no easy snip - Jul 07, 2010
With credit card rates of more than 20 per cent becoming commonplace, people who accumulate credit balances on their card accounts are facing very high repayment costs...

Banks bond with cash as fears rise - Jul 06, 2010
AUSTRALIAN banks have been bracing themselves for funding headaches by pumping up their holdings of cash by a hefty $12...

ASIC begins rolling out credit licences - Jul 05, 2010
The Australian Securities and Investments Commission (ASIC) began issuing credit licences last week after a three-month registration process that saw almost 15,000 applications...

Funding, margins to squeeze bank profits - Jun 23, 2010
Australian banks' core earnings are set to decline as higher funding costs and weaker margins curtail their post-financial crisis earnings growth spurt, analysts say...

View deductions with care - Jun 21, 2010
We are a nation of landlords. The Australian Taxation Office shows 1.6 million people own a rental property...

ASIC warns of looming credit deadline - Jun 16, 2010
Registrations for credit licenses are about to hit 12,000 as financial services providers prepare for changes to the credit licensing regime...

RBA looks to put rates on hold - Jun 16, 2010
The Reserve Bank has indicated official interest rates could be kept on hold again late next month as it monitors Europe's debt situation and assesses Australia's inflation outlook...

How to get your own back - Jun 15, 2010
The federal government reckons introducing a standard tax deduction - $500 in 2012 and $1000 from the following year - will tempt many people to leave their claim at that and go with a tax return pre-filled by the Australian Taxation Office...

Bank workers 'worried about customers' - Jun 09, 2010
Bank workers are suffering high stress levels caused by the pressures of meeting sales targets and feeling unable to provide good customer service, a survey has found...

PIS links with CUA on bank product distribution - Jun 09, 2010
Professional Investment Holdings (PIH), the parent company of one of the country’s largest non-institutionally owned dealer groups, has confirmed it has partnered with Credit Union Australia (CUA) to distribute banking products...

Confused by credit rules? So is everyone else - Jun 08, 2010
Signing up for a home loan or credit card is a significant milestone for most Australians, but research has found many people are confused about how much it will cost...

Businesses now less satisfied with banks - Jun 02, 2010
Small to mid-sized business is again emerging as the key battleground for banks to build their lending book as the mortgage market cools...

BOOKMARK THIS WEBSITE
To add Australian Car Finance to your favourites, simply click here.

|  home  |  news  | links  |