Posts tagged "banking royal commission"

In the wake of the royal commission report, the banks’ share prices surged, as almost $20 billion was added to the value of the big four.

The underlying culture of the Australian banking ecosystem has been to systematically take advantage of customers — but the future looks brighter.

The banking royal commission has stopped short of advocating broad changes to SME lending, prompting criticism it has not gone far enough.

The banking royal commission's final report will have credit implications for small business amid scrutiny over the industry code of conduct.

In its first month of operation, AFCA has recorded a 47% increase in complaints, with 460 small businesses spilling the beans on their banking and financial services grievances.

By Louise Metcalf, Macquarie University

Appearing before the banking royal commission, the newly appointed head of the Commonwealth Bank,…

The newly established Australian Financial Complaints Authority is bringing on a small business ombudsman to look after the small end of town.

Despite allegations of fraud, strong-arming and abuses of power, Australia's big four banks say SME lending framework is broadly appropriate.

The code covering SME lending requires a major overhaul to protect businesses from the power of the big banks, Australia's small business watchdog says.

We need to "enshrine Justice Hayne’s six commandments in every bank’s code of conduct and make any breach to that code criminal."

Many people shy away from selling, due to negative stereotypes which lead them to think selling only applies to the desperate and devious.

ASIC has named small business as a key point of focus over the next twelve months, singling out lender behaviour and unfair contract terms.