ASIC approves July 1 business banking reforms, but delays decision on controversial definition
ASIC has given a partial tick of approval to proposed changes to how small businses banking is regulated, but more controversial changes remain in question.
Nothing to see here: Banks oppose SME lending regulation crackdown
Despite allegations of fraud, strong-arming and abuses of power, Australia's big four banks say SME lending framework is broadly appropriate.
“Too many outs”: Ombudsman slams banking code for being weak on small business protections
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.
You can’t bank on banks: Why a legally binding, industry-wide code of conduct is needed
We need to "enshrine Justice Hayne’s six commandments in every bank’s code of conduct and make any breach to that code criminal."
Royal commission shows banks have behaved appallingly, but we’ve helped them do it
In his interim report, royal commissioner Kenneth Hayne pilloried select Australian banks for their greed and putting profits before customers.
“Like frightened turtles”: Why everyday borrowers will suffer most in banking royal commission aftermath
The people who will lose from the royal commission are the 'marginal' borrowers — the young, the less affluent, the less educated, the casually employed.
A twofold solution: The royal commission must consider both regulation and education
We can’t just rely on regulated disclosure. Better-educated people are better equipped to ask the right questions and make more informed decisions.
“A lay-down misere”: Calls to relieve super burden on SMEs as royal commission focuses on superannuation
Australia’s small business leaders say employers should be taken out of the superannuation process as the banking royal commission focuses on the $26 billion industry this week.
