Posts tagged "royal commission financial services"

By Louise Metcalf, Macquarie University

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

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.

In his interim report, royal commissioner Kenneth Hayne pilloried select Australian banks for their greed and putting profits before customers.

The people who will lose from the royal commission are the 'marginal' borrowers — the young, the less affluent, the less educated, the casually employed.

We can’t just rely on regulated disclosure. Better-educated people are better equipped to ask the right questions and make more informed decisions.

The royal commission into Australia's financial services sector has important ramifications for the country's small and medium businesses, writes Neil Slonim.